Translation
Notice: This document is a translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
December 26, 2025
Company: | PRESS KOGYO CO., LTD (URL: https://www.presskogyo.co.jp) |
Representative: | Yuki Shimizu, President & CEO |
(Stock code: 7246; Tokyo Stock Exchange, Prime Market) | |
Contact: | Takanori Sasaoka, Executive Officer and General Manager, General Affairs Dept. |
TEL: | 044-276-3901 |
PRESS KOGYO CO., LTD (the "Company") hereby announces that it has resolved to dissolve PK MANUFACTURING (SUZHOU) CO., LTD., a consolidated subsidiary of the Company, as detailed below.
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Reason for the dissolution
PK MANUFACTURING (SUZHOU) CO., LTD., a consolidated subsidiary of the Company, has been engaging in the business of manufacturing construction machinery parts in China. However, from the standpoint of improving business efficiency of the Press Kogyo Group's operations in China in light of the future business environment, the Company has resolved to dissolve that subsidiary.
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Overview of subsidiary to be dissolved
(1)
Name
PK MANUFACTURING (SUZHOU) CO., LTD.
(2)
Location
No101, Wang Mi Road, Suzhou New District, Suzhou, Jiangsu, China
(3)
Name and job title of representative
Koshi Fujimoto, Representative Director
(4)
Description of business
Construction Machinery-Related Business
(5)
Share capital
13,100 thousand U.S. dollars
(6)
Date of establishment
11 October, 2010
(7)
Major shareholders and ownership ratios
PRESS KOGYO CO., LTD (the Company) 100%
(8)
Relationship between the parties
Capital relationship
The subsidiary is a wholly owned subsidiary of the Company
Personnel relationship
The subsidiary's representative is an executive officer of the Company
Business relationship
The Company provides technological assistance and the subsidiary manufactures and sells the Company's products.
Related party relationship
The subsidiary is a consolidated subsidiary of the Company, thereby falling under the category of a related party.
(9)
Operating results and financial positions of the subsidiary for the last three years (Millions of yen)
As of / Fiscal year ended
December 31, 2022
December 31, 2023
December 31, 2024
Net assets
695
609
446
Operating profit
(84)
(93)
(83)
Ordinary profit
(85)
(98)
(83)
Profit
(683)
(187)
(83)
Net assets
998
859
849
Total assets
1,160
961
933
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Date of dissolution
Date of dissolution resolution at the meeting of the Company's Board of Directors: December 26, 2025
Date of dissolution of the subsidiary: December 26, 2025
Completion of liquidation: December 2028 (scheduled)
* The Company will proceed with fulfilling the necessary procedures as required by the local laws and regulations.
- Future outlook
The impact of this dissolution on the consolidated financial results of the Company as a result of this dissolution is currently under examination. However, the Company believes that the impact on the full-year consolidated financial results forecast for the fiscal year ending March 31, 2026 announced on November 11, 2025 will be negligible.