The major generic drug "Nichi-Iko", which is trying to rebuild its business while continuing its business, revealed that it had over 35.6 billion yen in debt as of the end of September this year.
In response to this, President Yuichi Tamura will take responsibility for management and retire in March next year.
On the 14th, Nichi-Iko, headquartered in Toyama City, announced the interim financial results for the entire group for the current fiscal year, and sales were 91.2 billion yen, up 6.2% from the same period last year, but the final profit and loss was in the interim. The financial results posted a deficit of 54.8 billion yen, the largest ever.
In addition, as of the end of September this year, it fell into excess debt of more than 35.6 billion yen for the first time.
This is due to the sluggish performance of the US subsidiary "Sagent Group" and the fact that the operating rate of the factory has declined due to delays in product development, etc., resulting in a valuation loss of over 47.4 billion yen that is the main factor.
In March last year, Nichi-Iko received a business suspension order from Toyama Prefecture for serious quality control problems and voluntarily recalled the product. We are working to rebuild our management while continuing
Nichi-Iko commented that "getting the understanding of financial institutions and establishing a business turnaround ADR will lead to the elimination of excess debt." He announced that he will retire in March next year.