情報は、霞が関。　お金は、電通。

弱いものに強く、強者を利する。

ジャーナリストはいない。
政府の審議会に入りたい！似非マスコミ人ばかり。

諸悪の根源は、電通＆マスコミ談合システム。

It was the anticipation to report on a regular basis that you have learned in the company, that it felt to Mr. ○ ○ real NO2 to hit the joining. However, since it was cut off to be a "stop me from worrying about" severely than president, it was not a report against one's better judgmentWe have been doing to ensure that he joined for the purpose of Shimizu home support, you can not never in the management team in the past. And I think I can improve as far as it will also talk about prospects for tomorrow profitable somehow, in the steering depending on future deficit company. (Or would have how many people who are said to be for friends even if at this particular time, or reversal of deposit of their own, to help throw away up to his position, and to such Re Sono) to the reform real salary cut state, the company, not at all evaluation results were to rise. Promise of joining the company is not running anything. I have come to without saying anything Omonbakari face-to-face Shimizu During this period, we believe that the law played it against Shimizu house. We would like to hit the management at the thought of employees flat surname future. Thus for the honor of Mr. Shimizu only you are in mum like until now, it becomes the situation that Mr. ○ ○ of NO2 do not understand even problems substantive our continued. It is also possible that yours truly has been the reform also attributable to non, and I think that since it is necessary to have you recognize that there are no more, workarounds, and should inform about the current state then, is up to you took the brush in that case I think not finished solved a structural problem of the Company, but it put your hands for the most part, to have escaped the worst. So you mean to say to say that it has resolved half of the reasons why yours truly threw himself into our company, I believe that I was good even think about leaving time evaluation expected If the noFirst, let's talk from yours truly background threw himself into our companyDecent ordinary income, financial results of the Company's net income is 20 million yen annually (from earlier in fact) from the time yours truly was the Niigata branch manager. This phenomenon of net income unchanged was typical window-dressing. However, at that time, which had been determined to be "not so much to be fatal". However, in continuing strengthening of bank management testing standards of the Financial Services Agency then, eyes to see the company had become severely rapidly in each bank. As you know, review function of Shoko Chukin Bank will are known for their high level of sequence to IBJ in the financial world of Japan, but the company went up on the agenda in the (Committee of proper top) Special Committee isIf you have an improvement request from the front to Shimizu, pride is high, and since there is not a person listen to the words of others, they did not Tsutomara in Mr. △ △ talented that there was a risk of opinionated, yours truly has selected choice to say it (could not served) is a company, and to management seconded anyone because good is not impossible. As a consequence, from (Why did all in one's mind of yours truly) that on there is also a trust relationship with Shimizu, there is also a trust of Mr. ○ ○ of NO2, maintain (for outside) Pride of Shimizu yours truly is on loan to the Company to the reform while the, It will not be the only way. This is why it is supposed to sayIn consultation with the Chief of, yours truly was also lost considerable. Shimizu home support old friend should be by all means, however, should I throw away the officer post of affiliates ordinary income is more than 1 billion yenMy wife also had a consultation, the results include, but are not troubled life, and decided from that you have the acquaintance of 10 years relatives par with Shimizu house, and trying to port even a little know-how of corporate management,
I did the consent of the consent to the directorIt was to dispel the delusion, is, it was three word of Shimizu. That I felt when I heard the words of "want you to help me because I want to the Second Foundation", Shimizu also, It looks trying to stand up to resolve to understand the current state of their own finally. Another private car it was felt that "salary is cheap, but it'll give always even cut the salary of Mom" is, and It looks are you expectations to yours truly really, that it comes to bachelor in Niigata \ 3 million it costs the purchase of household goods or bought, cost of living takes correspondingly, but I'm a real deficit company, and I have no reason troubled life real revenue it drops, let stand until the company is profitable I was determined to. Also a word of last, there was something there to emotional and what me said, "It's very in bachelor, but I lend Mom at any time" was, as a friendWithout notice to the Company that certain of Shoko Chukin Bank the purpose (of our reconstruction) is joining the company of the Company, a useless burden to Shimizu, and I used the maximum care upon seconded, the pressure is not to hang Do not Yaga action power and activity power of Shimizu by you, to our corporate class local, there is no example of seconded by bachelor above all, director experienced national bank are wondering from banks (I was asked persistently angle, and it would be there or anything rabbit If you're come to me from the chairman of Nigataun'yu) for no, it was to join as a friend by all means. By force of circumstance, I had variously cooperation also my wife to thisFirst, there were two that should be the first to be joinedOne, was to have been chased by (2.5 billion yen per year) bank repayment of more than three times the bank ability to repay substantial. This is a "make sales", words in the corporate of the Company was not in the "take profit" for this. Let alone was a word that do not use any words to say a very important "gross margin" for the company. Operating activities of the Company "make sales for cash flow" exactly
It was only a typical movement that may exist in a bankruptcy, so to speak, close companyIn the cash flow "management such must scramble to bank loans, management input and staff management education and development specifications and sales (bank loans negotiation is mistaken for core business is management of some) of the original power of thought to such as are dampened, with. "that can not be a good company because never was my opinion, I was aiming for drastic solution of cash flow. There were two purposes in other to improve the cash flow. Thus fueling the anxiety of each bank financing is not stable to a major reform of the company, one of them was essential as a countermeasure. The second was the reduction of the financial costFor these, it is not resolved in the refinancing Shiron of 7.7 billion yen as you know. Bank debt-to-income becomes less than half by this, (has made a greater interest rate reduction in the interest rate hike scene fact) financial expenses also succeeded in compression 40M over five years, as a result, the president Takano director monthly that he had a meeting about funding by calling is, has become a totally unnecessaryThe second, was the judgment of the pros and cons of the sale of Yu TSUTAYA. I think that realized that the management of the current situation is getting out of hand, the president had the aim of reconstruction of the revival of the dead at 1 billion yen gain on the sale. From that you have not informed enough the current state of the Company, Mr. ○ ○ On the other hand, was the attitude of the sale opposite. Contents of the Company and comes known, HC Division has visibly large deficit, the structure that is supported by Yu TSUTAYA division it. Yu TSUTAYA after the sale, as well as wipe out the window dressing of the past of the HC division by this fund, improvement of balance of payments underlying structure if it has been done, the continuation of HC will be impossible. But the gain on the sale of Yu TSUTAYA Division at 1 billion yen, it is not only half of the window dressing amount. In addition, improvement of the purchase price and selling price, level-up of motivation and work of employees, Current Status of officers, and action plan, not even with the developing of any improvement, plight is pouring away deficit of 300 million yen per year was. Therefore, when the sale of this business, good temporarily but fall had been visibly surely. So you will continue to check the sale of content, a very disadvantageous terms have been scattered rental agreement, and store decision retracting, and came seeking to expand its stake TSUTAYA also look at the feet of the Company in addition . Then and hope this, it is the reason you dont have to stop the division sold to issue this investment ratioWhen you look back at this point now, If I had sold the TSUTAYA Division at that time, and I doubt very company or were able to exist by now, ○ ○'s but had said, "excited, I want to excited" every day , "Every day nervous, and pounding" was this timeAfter TSUTAYA problem and funding is resolved, the following measures are stalling reform is to proceed, it is deficit actually looks is the strategy to be in surplus (legally), this is kind of companion Now Nagaoka store to spin-off It was compression of the annual depreciation amount due to compression of rental assets and investment. There is a risk to say denial of national taxes in this strategy, but there is no hand out. So I went to explain to the national tax of Omiya along with the Accounting & Tax Office from counsel. You have successfully profits of \ 400 million more than a year this strategy, this effect were always a half a year last year still (this is why you could closing finally was reduced to home improvement in the form to say rent this, two last year I have the window dressing of 400 million yen in total, Inc.). However, this effect is gradually decreased every year, I will disappear in three years. That is why, is why it is necessary to accomplish the structure improvement during this time(This is discussed many times around here, but it would whirled up with a number of looks, it is each question management's Understanding the reality of true)

The reform of the fourth, you have to give it the power to issue ordinary income of \ 300 million degrees (only hardware store) to window dressing without it anyway during this time the reform effect of third continuesThere is a (refinancing) wrapping Shiron of 7.7 billion yen in three years, If you do not put the power to re-procurement at this time, cash flow does not stick, it's referred to as is, even if we succeeded in raising somehow temporarily it is not could be procured at high interest rates, it does not and it can become very tough for us in the debt structureSpecifications in order to want the sales for cash flow, to take sales to (now compression of input cost specifications arising from input route changes and specifications that you need to first speaking what is, or in order to increase one's earning capacity if scolded I stacked the deficit in order without making a reduction of the purchase price by, etc. If you place should lower the selling price on having taken the gross margin to change the supplier, change the vendor, it came as a bargain while bleeding improvement in the value of input rate due to price mix, is the rise in the gross margin percentage by which the second,). Is there a way to increase sales of course, that the current situation under which have been forced to reduce equilibrium retail world in a small number of, aging declining birth rate, the household proceeds, only we increase sales is in more difficult . Therefore not exceed improvement in the gross margin percentage by reviewing input structure and value purchase if Ne precedenceHowever, you can not change the input structure specifications and employees who are not given the crisis of the company, and not Ika and to reform the minds of officers with no sense of crisis. To say that it can take a long time, the stock (two years ago, promised to improve the value entered last year, but something fundamental and postponed usual in dealing with only superficial also a place where it is difficult to direct management of yours truly as Shokusho , for the time being, so you have to hand to the place that you can profit contribution surely trust therefore) can not be all things to do with merchandise divisionIn other words, the first compression of expenses is (cost control). I must put a hand to the largest cost labor costs for compression of expenses. But to say that the lower the salary is essential is the real reason to say "performance of the company from the bad," and also in order to get with the awareness of reform to employees, but set forth hate the president this "reason" I could not. Therefore part in the description of when you have a work stage was the life cycle of each home, the salary of full-time because of the, the motivation of employees, the system that reward the efforts by introducing a salary system in accordance with the results it was decided to reduce substantially the salary. (However, it appears that given the reduction in the workforce of the future, long-lasting and not even this effect) In addition, in-house production of outsourced aggregation of collections outsourcing, such as cleaning consignment, and the discontinuation of the cash register dispatch in addition to this madeCompression of useless, excessive leaflet ineffective was a particular problem (takes less than four months to convince to, decreased to \ 10 million or less cost in excess of \ 30 million monthly peak, etc.) to ensure I came as far as it will achieve results. As a result expenses it has succeeded in reducing about 100 million yen for half a year. General and administrative expenses were cut 400 million yen for the first time, it is impressed in JulySecond, organize the assets of non-essential, is the withdrawal of loss-making store. For example, we have also paid \ 30 million in the past 10 years even though it is not the second key area of development Yasuda, also expected to use, I do not choice but to pay in the future. Legal knowledge to developers of its predecessor, foresight noticeable problem is put off and none. This matter is also a defect is not in the contract agreement early termination clause. Must be something about thisWithdrawal of loss-making store is not Mairi To not say that withdrawal can be any property is also defective contract talk lease period, before. But do not exceed I must Ika advance, It is both loss-making store of \ 30 million per year, of Sakai shop "flat blame bookstore" is a property that easy to cancel in that. However, it does not move forward with resistance president Will there are circumstances at the time of opening. It is hoped that we would like to somehow convinceI need to explain again the reason for such a story here now. It is that it is sufficient if it is possible to understand the current situation of the Company itThe Company has repeatedly accounting fraud over the years. Recognition of fee income fictitious, capitalization of loss assets, capitalization of non-performing assets, capitalization of amortized assets, recorded fictitious sales, multi-installment as procurement to meet this, the modus operandi is (illegal act both) multiple lease , capitalized fictitious rebate, by recorded fictitious stock, 500 million yen annually in many years. There is a window dressing of about 2 billion yen in the balance sheets of financial statements on yours truly is the only currently known. Until now because it is such a state, if there is (was to must be done even over the money to survive) measures that you have to talk, driven into an impossible state, such as bank loans as excessive debt companies long ago, and put in the bank management of It seems that what was fallen into a difficult situation or Carell, such as whether be sold to a salvage companyThere was a very sad thing in the course of such a reform, and deadly. (In the sense that inflate the belly and eat yourself in the foot, it is that management should not have most) octopus dividend or continue to (many times I was remonstrance, but it seems that this year) , that the people who have been pouring away deficit is not nobody taking responsibility, is that it does not believe itFor yours truly in the anticipation to jump from heights of Shimizu for flat sei support, 3 million yen while Tsugikomi his own money, having gone out from the bank, an officer of the corporation, are pouring away deficit of several hundreds of million yen per year, annual salary of yours truly It is 1.4 times, take the annual salary of yours truly comparable to even the director class is a subordinate, you are in favor "to determine the salary reduction of employees" in the draft of yours truly without taking responsibility for the deficit on it. As well as amazed to this irresponsibility, do not want to say that this (low ratings for yours truly, but bachelor allowance is paid to employees not even been paid. We are overwhelmed and can not be explained to my wife on this point anything else than that, I did stunned to recognize that (joined at the time), Mr. Shimizu is not trusted at all and to ask that you write a diary to deputy director par)Another was the fact that the board is not discussed at all this deficit problem. Do not try to touch no one important problem companies or live positively, or die (officers do not know the actual situation, the problem is put off all, it did not attempt even know the other officers Shimizu is in burdened alone rather was), level trustee department of company ordinary meeting of chief of general affairs section, until 12 o'clock at night and endlessly, the Management Council is a conference of waste Pimply incredible keep it going. The exposure the current state of company in this Executive Committee six months around joining, called for improvement, but is that there is no reaction at allThe worse was that that yours truly has come to reconstruction assistance, I was on the Toso hidden window dressing Shimizu, who said, "want you to help me so that the Second Foundation". I can not believe, It is typical that do not trust yours trulyIn addition, there was no sense of values say that considering the compliance to the Company, is a company with no hesitation almost to be an illegal act, companies increase sales of 30 billion yen angle also rabbit is social responsibility if small businesses I have come to is that it is not thought to yours truly came from the bank to're repeated circumvention of the law favor without thinking, to being cursed called Commerce and Industry Department daily Prefecture. Business credit to them will be lost across the board, and loss of social status of management when it is denounced in the newspaper, etc.. It was the state that does not think any such riskAround this time, from ○ ○ 's, it was said to be "I want to stay in good relationship Zoot" is Shimizu house and yours truly just, but I do not know what has been such a remark to anyone what is said is lady , it was what was muttered, "Shimizu house wonder has a bad relationship, I think of people also do not know" and at that timeAnother was lost the motivation is that Mr. Shimizu is unable to understand the meaning of human resources reform○ ○ I think that's also has been found, but paying off monthly labor costs decreased reliably by changing the pay system. Has established to pay depending on the goal situation for the bonus, had explained many times to employees, but Shimizu Mr. ignore this rule suddenly becomes the payment date, we have paid regardless of the performance after all. I Yariai with the president strictly equivalent to about this, president agrees to pay in accordance with the promised performance this spring each director, deputy director also OK, all right also amount paid to each person, but the funeral of the mother in while you were away for, I have to change in the provision of previous year. president will change on its own that the company has decided, that we have just described employees, the organization does not grow in such a thing. I believe that you proposed it should be, but the personnel, personnel evaluation that keep saying lie to employees and I want you to put a stopI do not Kobose bitches even friends, because there is a risk that we will not Tachiyuka business conditions of the Company are transmitted at this point to Shoko Chukin Bank of bitches, yours truly is the meet also with the president our fellow Niigata I was ahead, I did not want to Suberashi mouth with seat drunkCredit management will fall perfectly this management team, such an attitude if known to the financial institution. I've attached a breakdown of the financial statements in the past (not reported to Shoko Chukin Bank for now of course, because you will not be fully concealing) the reference, please have a look. There is an amazing number in the publication and reality, and has a whitewash in a row so far even come to hide how much, I can not Dodge professional eyes. Attitude of retreat headquarters detachment of the Sumitomo Trust & Banking Co., Ltd., Mizuho Bank, Mizuho Trust & Banking, closed condition of the waist of Bank of Tokyo-Mitsubishi, statement of cash receipts and disbursement request of Aozora Bank, collateral appraisal request of Hokuetsu Bank, Ltd., and Sumitomo Mitsui Banking Corporation share theory, You are not allowed to ignore easily that the observed number of phenomena to be considered as backward. Going to hit these measures laid the Shokon really is essential. We believe Tachinaoreru and if I observe chitin and this policy has been presented to the bank to develop a medium-term management plan, is the consideration (thisOn the other hand, if you'll explore the cause of the deficit, the back does not speak out deeply, but a "river pine food" the direct cause of the "blue sky is a three store". (Nagaoka, Joetsu store store, but also is a huge deficit)
That and that there was a need to fill the remains of eight hundred sum, by incorporating sales of river pine sales that do not stretch, only the appearance but also tried to cover the shortage, efforts and river pine food that you take in super even It was to expected around buying customers coming to the store by. I do not think this plan is and was wrong, but there was a big problem that the capital investment to Shiteyari and use the balance for free. In addition to the cost of equipment, our company is partly because the burden has increased substantially 200 near one million yen annual personnel cost, cost of utilities, rent, building depreciation, or flyer generation. (The part reform since last year, we have succeeded in having you pay about 65 million yen per year)
As a last-minute opening of Location Law enforcement before, what (rich is the most important thing for retail life without doing enough location decision, but our unfortunately is a major deficit Another cause of the "blue sky three store" If you claim there is no know-how at all, its importance is also not well understood, and should purchase this marketing software, because it does not lend even the ear, hard to time in a manner about 30 years ago and now say of skill in the art.) are doing it over, but it is three stores Toyosaka Inter store, Nizaki stores, Shirane bypass store Aozora Bank credit was the opening to leave. Would exceed the 200 one million yen alone deficit of this three stores. With respect to projects that are not expected of the investment is Aozora Bank's main bank, without also guidance to the Company, and credit easily is a shame as well as a flameThere are various well outside, but it is not none of those can be improved easilyAnd sought protection to the board of directors in April of the year before last in this regard, but not understood, it's began to move substantially to become in June of last year, the reform program of yours truly is would be delayed a year further directly belowThe story up to this point, do not get scared too. I was brought surplus of 157 million yen to (only HC) to window dressing without all this term. Please rest assured a little. And if it is possible to proceed as medium-term plan that has been attached, (the time it will take equivalent) you can be able to put out the window dressing in a planned mannerHowever, I would like to many times, but the current profit is due to cost control and the effect of the compression rental assets. Effect of sales revenue growth, by purchase does not come as far as it will come up yet. However, I think compression effect of rental assets and about a year and a half, so reform of the structure of the purchase is core business has become a pressing issue is nowWe think you have to go and run it anyway Nakagawa teacher agree with yours truly, cheering because yours truly has been increased by the joining of Akiba adviser about thisReform of financial and human resources is not enough, but it was completed once, and it has also started to create a manual collection of essential to the Company, sales As noted previously, reform of the maximum in the future is the purchase, also experts in this one were joined from, I have been thinking obligation of apprenticeship thanks to the Shimizu home from the one played as yours trulyJust at this time, "If you played a reporting obligation" to the native line that accompanied you leave the office, given the Company's financial current, from profitability, anxiety is no choice but to remain in the bank deal with (each line, There is a sign of becoming aware of the window dressing of the Company and, therefore, are closely monitoring the movement of Shoko Chukin Bank, which has dispatched finance Managing Director). We will become like the next and I would like to talk more realistically about this. If yours truly have done in this scene, the "seconded end report". Shoko Chukin Bank is determined that excessive debt company because of the window dressing of 2 billion yen of the Company. "Watch out ahead", is specified in the "Special Needs Attention To" If bad company when it becomes like this. By inspection of the Financial Services Agency to enter the Shoko Chukin Bank, you will be designated similar in sequence to "watch out ahead" in other banks. It means that when I say to more severe, be required to early redemption full declaration violation of syndicated loans that we've gone past, from false declarationIf the product is certified to watch out earlier, a new loan will not go smoothly. In other words, it is driven into the situation to be chased in a difficult financing over when yours truly came to us (Because it can not be capital investment, you can not even raise funds through illegal multiple lease multiple cup was doing past) . Interest rates will rise surely nearly 1%, interest expense of the Company will be increased by about \ 120 million per year by this other one. It is no longer available for new funding almost is specified in the "Special Needs Attention To" further. In addition, it comes also with profit loss of life of Shiron, Our company is located in the bank management of, and repeat the window dressing, you must put in mind until sanctions action for managers who have been to the octopus dividendThat yours truly will not quit can become even drawing the curtain of the Company and is deadly at all I think such a thing. However, now that you got out of worst period, reforms if so proceed in the medium-term management plan that was prepared separately, if you do not strive without thinking that to wrap the completion of the 3.5 billion yen Shiron quit at the very least, until now This is where you are worried about three years is wastedHowever, and resolved to become a (person said to be the assistant of the best) "Toyotomi Hidenaga" for Shimizu to hit the joining, it came hit throw even honorable position for the bank employee. We have been also enabled as not to strip the face of Shimizu even plenty of rebuttal material, objections ahead, and convey the opinions of yours truly in the document, such as at a later date unreasonable opinion, for instructions. However, regardless of not mean that you have joined for their own lives, also joined for your Shimizu house, there is no place to work, response to yours truly of your company, response to "Ronin Kuitsume" you have relied on your It was the same. There is no confidence in as if to have a saw to a surgeon with a scalpel, thanks respect nor felt, can I continue to bachelor even what time under such circumstances. So please keep in mind also be leaving suddenly one dayBefore, do you remember that I said, "You had better wait a little more is good because to be hard," you put the company your son is because there is a background as described above to ○ ○'s. But I emerged from the worst period, ahead you will see this in '12, generation change would be also not than may be considered a correspondence with a view soon. I believe your son is to take over the work that is of yours trulyClosing
We have been affirmed upon unusual seconded, and reform as a bank, but has yet to achieve unfortunately because it was the content that goes beyond the expectedI think as long as the willpower followed will support, but I believe cooperation as a friend and finished play free service after apprenticeship is too much, so that it must Ika been reduced gradually to a private capacity in the future. It also provides prescription for the time being, we are heading for the better for sure. I think from now on, and something that should address this issue Shimizu house togetherIn addition, this report is visible that it is said to speak to Mr. Shimizu to be "me stop". Speaking of why, Shimizu do not want to lose you want to solve you do not want to worry about the family, including the ○ ○'s, alone myself, the confidence of the family due to inform the status quo. I think to be in the place to say. It was announced this time, is that I want you to know in order to reform do not turn back when yours truly is no longer home. Therefore believe that ○ ○'s pretend you do not know, go towards the improvement while maintaining the pride of Mr. Shimizu is importantIf you do not believe the story breakdown of yours truly, and then show us the evidence. We have an audit of the Company for a long time, "Shin Nihon" has been refused an audit of the Company. It is a thing that too terrible management structure, in which it is not progress of improvement, was afraid that if audit responsibility there was something called into questionIt is to understand all To hear the director Takano than thatWe are looking forward to resolution of Shimizu house in the futurePostscript
Shimizu If Kurere to support actively, a reform that is my recommendation, has debts of about 4 billion yen start of the first year of 2.5 billion yen the second medium-term management plan is hopefully in the next five years You can. I think (about 2 billion yen is by all means needs to be compressed before wrapping Shiron) half of the window dressing of 2 billion yen in 3-4 years and then can be solved further. It is a regret at this point is the sale of HIRASEI Yu TSUTAYA. It is to eliminate the window dressing of any kind in this. Because no looking for TSUTAYA business for this strategy successful, also, be a spin-off once again (is that capital reduction window dressing amount of backlog or, to capital increase in the minutes Shimizu house), the project team recently It has a lead-out for example, to preside over, but it is to be (in 200 million yen more than ordinary income) maintain and improve the commercial value of TSUTAYA to advance the reform without the cutting left to Shimizu, managing director as it is, with the assistant of the corresponding. I think the environment surrounding the retail future will continue to deteriorate, but I think if there is a large deterioration, TSUTAYA after the sale, home improvement also possible to aim the company of 500 million yen 25 billion yen ordinary income annual sales. Just is the development of young that ○ ○'s are worried about, but (I do not think this is a thing which a person grows in only superficial) that can not be felt at all, the intention is responding to expected to remain this in Shimizu It is not unlikely00 Sun 00 May '00 Heisei
Shimizu ○ ○ like

I come I want to the reconstruction of the Shimizu home swallow total this story, but when looking at financial documents brought the flat teacher of accounting firm yesterday, and clarify management responsibility can talk to the president how much (salary cut deficit runaway officer is not performed, continued intention of octopus leg dividend) that there is no intention to make, and also found, certainly the term surplus balance sheet from (had been going on for 10 years) large deficit finally gave the results (not the result of only yours truly, but was a deficit surely this term yours truly, if it's not to turn off the handle) without evaluation in spite of, it is allowed to stand for a salary cut state will continue compared with the previous company came to support the fact, to seek rewarding say reconstruction and friend support and small and medium-sized enterprises, and up to turn on the self, but not likely to be recoverable even his own expense that you have invested. Energy to go to work with a high willingness not born under such circumstances, and we have decided to talk reluctantly from the fact that that you have worked in silence also found that it was a mistakeI am happy if you can make use of the life of "flat system" Hopefully, it does not waste this report. And to recognize the reality of our, ○ ○ san, please show power as NO2One, except that out of window-dressing in the past and are recorded less than the actual debt accounts payable, and accounts payableFor window dressing in the past, it is just going to reduce revenue by intensiveHowever, there is also environmental degradation in TSUTAYA Division, progress rate has remained at a very low level
I have not had for 9 million yen of the assets still window dressingMore specifically, payment of debt to two companies of star light hall and Tohan is offset by fictitious rebate, and 600 million in total
23 million yen have been under-recorded. Long-term improvement planning later, it is not be compressed at all unfortunatelyIn accordance with the traditional policy as our company, increase profitability, and the amortization of negative assets in the past such as this even little by little
plans to go, I suspect improvement of balance goes according to the budget, and can be solved at any one paying the taxHowever, regardless of the Company's performance, to tenesmus, risk lead establishing connection to our stumbling this window dressing is transpired from external
But it should be noted that it has come to expandIn other words, there is a possibility that in a changing market, the performance of window-dressing partner has deteriorated significantly, maximum this problem
Has turned into. By the way, the performance of both is as follows, significant deterioration in performance can be seen bothHowever Tohan is deteriorating sales and ordinary income in company rapidly, but borrowing as a% of total assets
Least, is in a commensurate net assets, the problem is believed to have no immediate futureOn the other hand, the star light temple, down 24%, sales, net income in the deficit of two consecutive years, 1.5 billion in just two stage
Also circle the negative. Net is a 2 billion yen current, a similar trend is if you follow the future, excessive debt early
Even danger of falling into(Mizuho B / K main), The problem is the company bank management from excessive debt temporarily is a trend of this star light temple
If you fall into, banks will be able to dip into compression of debt course. The accounts receivable of the industry standard over the case
It is a conventional means of promoting a review of the terms and conditions that allow a period of time. And accounts payable of the Company at this time
Risk that there is a large difference in the accounts receivable of star light temple was discovered, window-dressing of the Company would transpired
It becomes and that it is producedPerformance of the two companies relationship
Company name Tohan and Seikoudou
June period June 22 period March 21 period March 22 fiscal '21 fiscal year
574,826 547,236 88,532 67,299 Sales
4,109 2,144 186 222 ordinary income
1,021 1,078 -1,188 -302 Net profit
5,000 5,000 12,100 debt
89,600 90,682 2,057 Net Assets
336,352 325,450 22,621 Total assets
391 232.6 window dressing amount in accordance with the two

Two measures
Drastic measure
Co., Ltd. and the capital increase 200 to 250 million yen flat blame total interior house, window dressing minutes for Hall of Stars at the same time
The capital reduction to 232.6 million, and total capital amount to the same level as current situation. On the other hand, the underlying assets of the capital reduction is used such as CD
I and 232.6 million yen of 326.4 million. Cash capital increase by unrecognized accounts payable for the Hall of Stars
The destined to put in, and you adjust the amount of accounts payable and our accounts receivable of star light templeIt should be noted that, as a condition for which to put in accounts payable, I seek the cooperation of the purchase of the existing non-performing stock in the Hall of StarsMeasures of second best
from that currently being investigated abnormalities of cell stock from financial institutions, in the range of funds in the balance sheet at the time
By the amortization of the old CD, and is adjusted in order to approximate a reasonable level, but stop this, star light the funds of this minute
Reduce the fictitious rebate from the temple, to compress the under-recorded minutes of accounts payable and adjust it over timeThe problem with this case
Zero (22 year), profitability of flat sei total interior House, come mostly with the exception of the dividend from the HC
Later period, funds of about 50M born budget execution rate for the time being if continued, Na and possible compression fictitious rebate
That, but I need 5 years to compression alone Hall of Stars minute. And that you do not take measures in accidents from happening
Risk from high and, given the deterioration of the industry and the current state of star light temple