JA Mitsui Leasing, Ltd. (“JAML”), an affiliated company of Mitsui & Co., Ltd. (“Mitsui”, Head Office: Chiyoda-ku, Tokyo, President and CEO: Kenichi Hori), made an announcement today on its website regarding an allowance for doubtful accounts, related to Katsumi Global, LLC, which is a JAML group company.
JAML has maintained a stable business platform. It is one of the important group companies of Mitsui and is expected to continue to achieve business growth going forward.
Therefore, Mitsui is planning to provide necessary support in coordination with the Norinchukin Bank, and is constructively discussing JAML’s capital reinforcement and business management improvement.
As a shareholder of JAML, Mitsui will take the appropriate actions while closely watching the developments of the subject case.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui’s current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui’s actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui’s latest Annual Securities Report and Semi-annual Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.
The information contained in this release is true and accurate at the time of publication; however, it may be subject to change without prior notice.