2024-04-26 updated
CYBERDYNE Inc. (the “Company”) announces that the claims on ROBOCARE SOLUTIONS, INC. (the Philippines) held by CYBERDYNE Inc. may be delayed or become irrecoverable due to the developments described below.
1.Outline of the counterparty
Trade name ROBOCARE SOLUTIONS, INC.
Address Makati city, Philippines
Representative Nastasha Rodriguez
Business description Provision of rehabilitation services
Relationship There is no capital or personal relationship with CYBERDYNE, and it does not classify as related parties.
2.The course of events that led to the possible delay or non-collection of claims
The Company has been transacting with ROBOCARE SOLUTIONS, INC. (“RS”) in the Philippines. The Company started to experience delayed payment from some of the contracts from RS. When the Company attempted to remind the payment and asked for confirmation of the status, the RS explained that they were also experiencing delayed payment from the facilities that RS is subleasing the Company’s product. The course of events described above led to the possibility of irrecoverability due to delayed collections of claims.
3.Type and amount of claims
Accounts receivable-trade 121 thousand US Dollars (approximately ¥18 Million)
(Percentage of consolidated net assets for the fiscal year ended March 31, 2023: 0.04%)
4.Impact on the business performance
Eighteen million yen is expected to be recorded in other selling, general, and administrative expenses as a provision for doubtful accounts in the fiscal year ending March 31, 2024.
5.Prospect
The Company is currently considering measures to collect the debt, including legal action, and will continue to make every effort to collect the debt.
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