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Leopalace21's Excess Debts Total 11.8 B. Yen

Leopalace21's Excess Debts Total 11.8 B. Yen

   Tokyo, Sept. 28 (Jiji Press)--Struggling Japanese apartment rental firm Leopalace21 Corp. <8848> said Monday its debts exceeded assets by 11.8 billion yen as of the end of June.
   The negative net worth reflected stagnant apartment occupancy rates apparently stemming from Leopalace21's shoddy construction scandal, which came to light in 2018. The company faces an urgent need to find a sponsor that will support its business reconstruction.

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AFP-JIJI PRESS NEWS JOURNAL


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