On the 31st, Calsonic Holdings, a major auto parts company that has been rebuilding using the national system due to the deterioration of management due to the influence of the new corona, presented a rehabilitation plan to creditors.
The content is to ask the financial institution with which we do business to waive a huge amount of debt exceeding 400 billion yen, and the focus will be on the financial institution's response in the future.
Calsonic Kansei, a major automobile parts manufacturer in Saitama City, whose predecessor company was Calsonic Kansei, aims to rebuild while continuing its business because management deteriorated due to the temporary drop in automobile demand due to the spread of the new corona infection. I applied for the use of a system called "Turnaround ADR" in March.
The company held a creditors' meeting on the 31st and presented a rehabilitation plan based on this system.
According to the people concerned, out of the total debt of more than 1 trillion yen, more than 400 billion yen is required to waive the debt from the financial institution with which it deals.
In addition, the company plans to issue new shares to the parent company, an investment fund in the United States, to raise 83 billion yen.
On the other hand, we plan to reduce fixed costs by reducing the number of employees by 3,000 in Japan and overseas.
Marelli commented, "We will do our utmost to establish a turnaround ADR in collaboration with creditors."
In the Turnaround ADR, the rule is that the rehabilitation plan cannot proceed without the consent of all financial institutions, and the focus will be on the financial institutions' response to the request for a huge amount of debt waiver.