TOKYO, Apr 27 (Pulse News Wire) – Kyokuyo CO.,LTD. (1301.T) announced today that its dormant subsidiary, Kyokuyo (Thailand) Co., Ltd.
(KKT), received a bankruptcy administration order from a Thai court. As a result, KKT will proceed with bankruptcy proceedings under the management of a trustee. KKT faced legal action from Krung Thai Bank Company Limited for unpaid debts amounting to ¥279 million baht plus post-judgment interest, which was ruled against KKT on October 7, 2024. The total liabilities of KKT as of December 31, 2025, stood at ¥291 million baht (approximately $6.8 million based on the exchange rate of 1 THB = 23.4 JPY). KKT's operations involved the sale of seafood and processed products, with a capital of ¥112 million baht. The company was established on April 11, 2014.
Kyokuyo CO.,LTD. holds 100% voting rights in KKT, and there is one employee seconded from the parent company. There are no trading relationships or creditor-debtor relations between KKT and related parties. In light of the bankruptcy proceedings, Kyokuyo CO.,LTD. has already impaired the value of its shares in KKT to a memorandum price. The company does not hold any claims against KKT and has fully accounted for litigation loss provisions, including post-judgment interest, in its consolidated financial statements.
Therefore, the impact of this development on the group’s performance is expected to be minor.
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