Furukawa Electric Co.,Ltd. [5801.T]
TOKYO, Mar 27 (Pulse News Wire) – Furukawa Electric CO.,LTD. (5801.T) announced today that its board of directors has decided to abandon certain debt claims against its affiliate company, Bisucas Corporation, due to concerns of insolvency.
As part of this decision, Furukawa plans to dissolve Bisucas effective March 31, 2026. Bisucas, established on September 26, 2001, specializes in manufacturing and selling electrical cables and related services. It currently holds capital of ¥10 million.
The company's main operations included overseas construction projects and accounts receivable collection, which have now reached their conclusion. In detail, Furukawa abandoned a loan amounting to ¥8.266 billion as of March 27, 2026. This represents 2.2% of the consolidated net assets as of the fiscal year ended March 31, 2025.
Looking ahead, Furukawa stated that the impact on individual and consolidated performance for the fiscal year ending March 2026 will be minor, as provisions for bad debts had previously been recorded.
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