Announcement • Dec 15IN Holdings CO., LTD., Annual General Meeting, Jan 30, 2026IN Holdings CO., LTD., Annual General Meeting, Jan 30, 2026.
New Risk • Feb 02New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (JP¥1.98b market cap, or US$13.5m).