TKP subsidiary Ichigaya enters bankruptcy proceedings

TKP Corporation announced that its consolidated subsidiary, Ichigaya, filed for bankruptcy with the Tokyo District Court on September 11, 2025. Proceedings commenced on September 17, 2025. Ichigaya, formerly Majars Inc., was acquired by TKP in September 2017. The subsidiary ceased operations in July 2021 and became a dormant company due to the impact of the COVID-19 pandemic.

Ichigaya was in a state of insolvency, leading the court to deem bankruptcy proceedings as the most appropriate course of action. The total liabilities of Ichigaya amount to JPY 110 million. TKP Corporation holds 100% of Ichigaya's voting rights and has a receivable of JPY 82 million from the subsidiary.

TKP has recorded a valuation loss on its Ichigaya shares, with the current valuation at JPY 1. The company anticipates the impact on its consolidated performance will be minor, as provisions have already been made for the receivable from Ichigaya.