A Thai subsidiary of Japan’s major seafood company, Kyokuyo, has entered bankruptcy proceedings under a court order. The impact on the consolidated financial results is expected to be limited.
Kyokuyo Co., a prominent Japanese seafood company, has announced that its dormant subsidiary in Thailand has officially entered bankruptcy proceedings. This significant development stems from a recent court order, initiating the formal dissolution of the Thai entity. While the company did not provide specific details regarding the reasons for the subsidiary’s insolvency, the declaration of bankruptcy marks the end of its operational existence. The Tokyo-based parent company disclosed this information on Monday, April 27th.