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.
📋 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
What decision did Fujikura Ltd. make on March 27, 2026, regarding its debt to Viscas Corporation?
On March 27, 2026, Fujikura Ltd.'s Board of Directors resolved to forgive its debt to Viscas Corporation.
Why is Fujikura forgiving its debt to Viscas Corporation before March 31, 2026?
Fujikura is forgiving the debt in conjunction with the dissolution of Viscas Corporation on March 31, 2026.
What is the relationship between Fujikura Ltd. and Viscas Corporation as of March 27, 2026?
As of March 27, 2026, Viscas Corporation is an equity-method affiliate of Fujikura Ltd.
Which company was involved in the joint venture that concluded before Fujikura's debt forgiveness in 2026?
Furukawa Electric Co., Ltd. was involved in the joint venture that concluded before Fujikura's 2026 debt forgiveness.
What financial impact is expected on Fujikura Ltd. from the debt forgiveness in fiscal year 2026?
The debt forgiveness is expected to have a minor impact on Fujikura's FY2026 financial results as the amount was previously provisioned.