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
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.
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Seven years after it paid almost three quarters of a billion dollars for US-based Sagent, troubled Nichi-Iko is offloading the struggling business.
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After nearly two difficult years for Nichi-Iko Pharmaceutical, the firm has announced at it will be acquired by a private equity fund and delisted from the Toyko Stock Exchange in 2023 and its CEO will step down from his post.