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| Credit - Picpedia |
On the 30th, eight group companies of Ise Foods (Tokyo), which originated in Takaoka, applied for the application of the Corporate Rehabilitation Law and the Civil Rehabilitation Law to the Tokyo District Court.
According to Teikoku Databank's Toyama branch, the company aims to reorganize its business by proceeding with legal liquidation in an integrated manner with Ise Foods. The total debt of the eight companies is estimated to be about 36.1 billion yen.
A total of seven companies, including Hayama Farm (Tamura City, Fukushima Prefecture) and Ise Farm Tohoku (Shikama Town, Miyagi Prefecture), which have headquarters functions in Takaoka City, applied for the application of the Civil Rehabilitation Law.
In both cases, the decision to start was received from the Tokyo District Court on the same day. According to the Toyama branch, three other group companies are scheduled to be liquidated privately. In March of this year, creditors of the Ise Group filed for rehabilitation proceedings for the core company Ise Foods Co., Ltd., a major egg company, Ise (Takaoka City), and Ise Farm (Iga City, Mie Prefecture).
In response, Hikonobu Ise, honorary chairman of ISE Foods, objected to the procedure, saying, "It is not insolvent." On November 25, ISE Foods concluded a sponsorship agreement with SMBC Capital Partners (Tokyo), an investment subsidiary affiliated with Sumitomo Mitsui Banking Corporation, and it seems that the legal liquidation of the entire group has progressed.