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Park24 announces extraordinary loss due to pension fund dissolution

April 3, 2025 at 12:05 PM UTCBy FilingReader AI

Park24 CO., LTD. (TSE:4666) announced an extraordinary loss due to the dissolution of the defined benefit corporate pension fund for its UK subsidiary, NATIONAL CAR PARKS LIMITED (NCP). The decision was made following a resolution passed by the pension fund's trustee on April 2, 2025. The dissolution involved transferring NCP's defined benefit pension plan to an insurance company, resolving uncertainties related to pension asset management. As a result, Park24 will record a loss of JPY3,194 million related to the reversal of remeasurements of defined benefit plans in its consolidated balance sheet for the second quarter of the fiscal year ending October 31, 2025. The company clarifies that this accounting adjustment transfers accumulated other comprehensive income to shareholders' equity, leaving total net assets unchanged. The company states that this loss has not been factored into their consolidated results forecast for the fiscal year ending October 31, 2025, and any material developments will be promptly disclosed.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

TSE:4666Tokyo Stock Exchange

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