Notice Regarding Forgiveness of Debt toward Viscas Corporation
Key facts
- Notice Regarding Forgiveness of Debt toward Viscas Corporation
- Fujikura Ltd. announced that on March 27, 2026, its Board of Directors resolved to forgive its debt to Viscas Corporation, an equity-method affiliate, in conjunction with the dissolution of Viscas on March 31, 2026. This action follows the conclusion of the joint venture with Furukawa Electric Co., Ltd., and is expected to have a minor impact on Fujikura's fiscal year 2026 financial results, as the amount was previously provisioned.
- Source: PR Times
- Date: March 28, 2026
Direct answer
Fujikura Ltd. announced that on March 27, 2026, its Board of Directors resolved to forgive its debt to Viscas Corporation, an equity-method affiliate, in conjunction with the dissolution of Viscas on March 31, 2026. This action follows the conclusion of the joint venture with Furukawa Electric Co., Ltd., and is expected to have a minor impact on Fujikura's fiscal year 2026 financial results, as the amount was previously provisioned.
- Citation
- Notice Regarding Forgiveness of Debt toward Viscas Corporation (March 28, 2026), PR Times
- Source
- PR Times
- Date
- March 28, 2026
Fujikura Ltd. announced that on March 27, 2026, its Board of Directors resolved to forgive its debt to Viscas Corporation, an equity-method affiliate, in conjunction with the dissolution of Viscas on March 31, 2026. This action follows the conclusion of the joint venture with Furukawa Electric Co., Ltd., and is expected to have a minor impact on Fujikura's fiscal year 2026 financial results, as the amount was previously provisioned.
📋 Article Processing Timeline
- 📰 Published: March 28, 2026 at 17:07
- 🔍 Collected: March 28, 2026 at 21:59 (4h 51m after Published)
- 🤖 AI Analyzed: April 15, 2026 at 21:54 (431h 54m after Collected)
Fujikura Ltd. announced that at a board meeting held on March 27, 2026, it was resolved that Fujikura would forgive its loans to Viscas Corporation, an equity-method affiliate of Fujikura, upon the dissolution of Viscas on March 31 of the same year.
1. Background
Regarding Viscas Corporation (hereinafter, "Viscas"), a joint venture equally owned by Fujikura and Furukawa Electric Co., Ltd. (hereinafter, "Furukawa Electric"), both parties agreed on October 1, 2016, to terminate the joint venture and have since been working towards its conclusion. As Viscas's business operations have now reached a certain stage of termination, Fujikura and Furukawa Electric have agreed to forgive the respective debts owed to them by Viscas and to dissolve the company.
2. Overview of the Equity-Method Affiliate
| (1) Name | Viscas Corporation |
| (2) Location | 1-8-8 Haneda Airport, Ota-ku, Tokyo |
| (3) Representative's Title and Name | President and Director, Ichiro Ishigaki |
| (4) Business Description | Manufacture and sale of electric wires, cables, etc., and the design, construction, and monitoring of related work. |
| (5) Capital | 10 million yen |
| (6) Date of Establishment | September 26, 2001 |
| (7) Net Assets | -15,951 million yen (as of March 31, 2025) |
| (8) Total Assets | 1,463 million yen (as of March 31, 2025) |
| (9) Shareholders and Shareholding Ratio | Fujikura Ltd. 50%, Furukawa Electric Co., Ltd. 50% |
| (10) Relationship with the Listed Company | Capital Relationship | Viscas is an equity-method affiliate of Fujikura. |
| Personnel Relationship | Two executives from Fujikura serve as officers of the company. | |
| Transactional Relationship | Fujikura has provided loans to the company. | |
| Related Party Status | As an equity-method affiliate of Fujikura, it qualifies as a related party. |
3. Details of the Debt Forgiveness
| (1) Type of Debt | Long-term loan |
| (2) Amount of Debt and Percentage of Consolidated Net Assets for the fiscal year ending March 2025 | 8,266 million yen 1.9% |
| (3) Implementation Date | March 27, 2026 |
4. Future Outlook
The forgiven debt amount of 8,266 million yen has been recorded as a provision for doubtful accounts in prior fiscal years, and the impact on both the non-consolidated and consolidated financial results for the fiscal year ending March 2026 will be minor.
FAQ
On what exact date did Fujikura Ltd. hold the board meeting that resolved to forgive its loans to Viscas Corporation?
The board meeting was held on March 27, 2026, where Fujikura Ltd. formally resolved to forgive its loans to Viscas Corporation.
What is the scheduled dissolution date of Viscas Corporation as indicated in the debt forgiveness announcement, and how does it relate to the board’s resolution?
Viscas Corporation is scheduled to dissolve on March 31, 2026, which is the same day the loan forgiveness becomes effective according to the board’s March 27, 2026 resolution.
When did Fujikura Ltd. and Furukawa Electric Co., Ltd. originally agree to terminate their joint venture that created Viscas Corporation, and what were the subsequent steps toward its conclusion?
The two companies agreed on October 1, 2016, to terminate the joint venture, and they have since been working toward concluding the venture by forgiving debts and planning dissolution of Viscas.
What are the capital amount, net assets, and total assets of Viscas Corporation as of March 31, 2025, according to the notice, and how do these figures reflect its financial position?
As of March 31, 2025, Viscas Corporation had a capital of 10 million yen, net assets of negative 15,951 million yen, and total assets of 1,463 million yen, indicating a heavily indebted financial condition.
Who is the President and Director of Viscas Corporation, where is the company located, and what primary business activities does it engage in?
The President and Director of Viscas Corporation is Ichiro Ishigaki, the company is located at 1-8-8 Haneda Airport, Ota-ku, Tokyo, and it manufactures and sells electric wires, cables, and provides design, construction, and monitoring services for related work.