President of Nakagawa
Kobatake JM Hall
So forth problems meeting yesterday at the NH SOJA had to get through the following schedule
I will report.
♦ date: 11 / 21 (Saturday) 10 h-12 h
♦ participants:
- Soja: President Fujii
- NH SOJA: nishihara MD
- NASCO: Akiyama / Takahashi
♦ meeting
1. Minori industrial investment (*):
- Fujii President Minori side the contribution requested officially reported and. Current Minori side
In considering.
- Investment: and considering things that NASCO stock purchasing plan at 20% /THB15 m. (* 2)
- Stock: shareholders ' equity (Networth) intention of Nakagawa headquarters, than we do in the method for calculating the price
that the base is not sold at book value (price) reminded (* 3).
[Note]
(*) Specialists in car interiors (Seat / ceilings, etc.). Soja industry and 10 percent ownership
Are you. Mitsubishi sales slump affected, and looks pretty bad performance.
(*2) present NH SOJA's shareholders ' equity was at slightly below THB 79 M THB 15M (for 20%),
Calculation on the shareholders ' capital Base to stand for buck.
(*3) and does not have stock standards, J and V contracts on, according to the Conference of the parties
You have. Upon rushing to our side approach needle decision is.
2. Soja industrial claims recovery problems
- Currently, Soja industrial vs. NH SOJA claims following huge has reached.
(1) Loan parent/child: THB 30 M
(2) equipment sales / accounts receivable: 144 M
- With the Advice of the Bank of China as Soja industrial, while considering the following debt recovery options.
(1) monthly flat-rate recovery
(2) INV... recovery according to the amount
(3) THB building cross-border loans (direct loans from the parent company guaranteed Bank)/
Lump sum repayment (to Soja)
(4) stand-by credit (local borrowing by the Japan side bank guarantees) / repayment (to Soja)
- Though the benefits of full and (2) loan the interest payment does not occur (1)
NH SOJA own firms affecting (in particular (2)).
(3) on the undivided interest increases and exchange rate risk taking lenders will be trade-offs are.
(4) on the guarantee by the Bank of China exchange rate risk even the (cost 10M) + parent company guarantee required.
- Things to us from NH SOJA produces Free Cashflow is vital, and the present
Claims of creditors from the parent company instead of banks, does not change reality.
Fujii President than monthly depreciation has reached THB1.8M, the monthly surplus was
Saying that somehow publishing且成澤口anniversary comes in and.
[To Do]
(1) the US is Thailand and Shoko chukin Bank (Soja's quasi main) to contact the Best Solution.
They became.
(2) at the same time, the financial position of NH SOJA visualization (Cash Flow Plan / inventory / accounts receivable / payable)
Determined to improve.
(NASCO A san using san Nee guidance)(*)
[Note]
(*) September exceeded T.Over THB 30 M and B.Even Point, despite continued deficit
(▲ THB 655 k) cannot convince us, requesting the A/C check by Nasco.
Will understand the realities of inventory and Receivables Management for more information with visualization of this at the same time.
♦ Remarks: NH SOJA is steadily growing turnover and originally played a "monthly profitability"
Wrong with the situation. A/C check conducted a thorough: we will explore the true reasons for the Loss continuation.
More than