|Top line||JPY 7 billion|
|Reason for sale||Solving the excessive debts|
|Business||Construction/Real Estates Company|
|Top line||JPY 25 billion|
|Purpose of acquisition||Synergies and securing employees|
|Scheme||Debt Forgiveness and Share Transfer|
The target company was a construction company on a country-wide basis in Japan.
Because legal insolvency procedures such as civil rehabilitation, etc. forced burden on suppliers, the situation was such that the company had no choice but to transfer to a bankruptcy proceeding.
The banks accepted some loan forgiveness, because they understood that the scheme provided better loan collection rate as compared with legal insolvency procedures.