This bankruptcy is because the SME Finance
Facilitation Act, which came into force in December 2009, will expire at the
end of March. The number of bankrupt
companies will temporarily be curbed as a result of the instruction of the Financial
Services Agency, but eventually many small-to-medium-sized enterprises will get
bankrupt.
As I often talk in video
lectures, the time will come when people who cannot afford to pay for food will
get to depend on consumer loan companies and women will sell themselves to pay
back money as is the case with Korea. It
is apparent that consumer loan companies and major banks that put money into
such companies will make lots of money and most of profits will go to foreign
shareholders.
All I can do is to give
you a warning. Acute observers will come
up with an idea of buying stocks in consumer loan companies to make money. Even if I feel sure that I can definitely
make money, I will never do such thing because it goes against my conscience to
gain profits in that way.
However, in this world, but rather in the
human world I should say, nothing makes sense.
Regrettably, it cannot be helped that such people will be destroyed.
Masatoshi
Takeshita
March
15, 2013
A young homeless person begging in London.
Photograph from guardian.co.uk
English translation of a Japanese article: NEVADA Blog – March 14, 2013 –
This
Year’s First Bankrupt Listed Company
*****************************************************
On March 14, Tokyo Cathode Laboratory Co.,
Ltd. (capital: JPY 2,323,105,195, representative: Mr. Naotake Okubo, number of
employees: 109, location: 1-10-14 Itabashi, Itabashi-ku, Tokyo) applied to the
Tokyo District Court for bankruptcy rehabilitation.
The company, which was founded in May 1950
and reorganized into a corporation in April 1953, is an independent manufacturer
of research and development of electronic part and semiconductor testing
equipment. The company has been highly
evaluated for its cathodes used for TV tubes.
Additionally, it started manufacturing probe cards for IC testing (jigs
used for IC electric testing) for the first time in Japan with technological cooperation
with the Rucker & Kolls in U.S. The company
has won high praise from its technological development.
The company, with main business partners of
major home appliance makers and semiconductor makers, posted sales of approximately
JPY 13,652,000,000 in the business year ending in March 2008.
However, after the Lehman Brothers’ crisis,
the semiconductor industry fell into the drums and was seriously affected by
the East Japan Great Earthquake and the flood in Thailand in 2011. As a result, the annual sales decreased to
approximately JPY 2,573,000,000 in March 2012.
During that time, the company worked for reconstruction by means of sale
of business and concentration of management resources on probe card business in
vain and gave up unaided reconstruction.
It has the amount of debt of approximately
JPY 3,200,000,000.
Incidentally, this is this year’s first bankrupt
listed company and the 6th bankrupt company in the fiscal year of
2012, following Sakurada (listed in the first section of the Tokyo Stock
Exchange, located in Chiba Prefecture) which went bankrupt in November.
***********************************************************************
It is likely that bankruptcy
of small-to-medium sized enterprises will drastically increase in number after
April 1. The number is estimated to be between
80,000 and 90,000.
Something horrifying might happen.
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