A consolidated subsidiary of 海帆, which operates mainly izakaya restaurants, has fallen behind on repayments of borrowings from イメージワン, while seizure proceedings by the Japan Pension Service and delays in sale-related procedures have further worsened its cash position.
海帆, which operates mainly izakaya restaurants, borrowed ¥125 million from イメージワン and ¥78 million from HATASE HOLDINGS through its consolidated subsidiary Kaihan Medical, and is proceeding with repayment of its short-term borrowings. The interest rate owed to イメージワン is 15% per annum, with unpaid interest exceeding ¥4.7 million and late-payment damages set at 20%. 海帆 repaid ¥60 million to HATASE HOLDINGS on 15 July, while it agreed to extend the repayment deadline for the remaining balance to 30 November.
On 15 July, 海帆 indicated that it planned to sell 16 stores, including 「新時代」, and expected to record ¥172 million in extraordinary profit. However, the related procedures did not proceed as scheduled, and the sale was pushed back to the third quarter of the fiscal year ending March 2027, increasing uncertainty over the securing of funds.
海帆 is subject to seizure of approximately ¥39 million in social insurance premiums by the Japan Pension Service, and delays in salary payments have also been reported. As its cash constraints have become more severe, development of the power plant for Amazon under its renewable energy electricity-sales project has also been delayed. The start of electricity sales was postponed to the end of September 2026, but the start of all projects has not been confirmed.
イメージワン says it expected synergies with 海帆's business when providing funds to Kaihan Medical, while Kaihan Medical had net assets of approximately ¥19 million and recorded a net loss of ¥217 million in the fiscal year ended March 2026. Expectations of an improvement in creditworthiness through electricity sales may have provided the basis for the funding.