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Nichi-Iko Secures Up To ¥98.5bn Debt Relief As ADR Pushes Ahead

Company Is Set To Delist From Tokyo Stock Exchange Later This Year

 
• By Chloe Kent

Troubled Japanese firm Nichi-Iko has currently has ¥55.8bn of debt forgiveness, which may expand to ¥98.5bn in the future. It currently faces regular payments until 2033 to settle all of its debts.

Four ¥10000 notes next to descending arrows
Nichi-Iko explained that its debt forgiveness has currently been fixed at ¥55.8bn • Source: Shutterstock

Nichi-Iko Pharmaceutical Co., Ltd. has announced that it may receive debt forgiveness of up to ¥98.5bn ($752.8m) from all 15 financial institutions with which it has transactions through its business turnaround plan.

In a December 28 update, Nichi-Iko explained that its debt forgiveness has currently been fixed at ¥55

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