October 17, 2017 The reason for J Trust’s sudden fall of share price

October 17, 2017

Company Name: JTRUST ASIA PTE.LTD.
Representative: Nobuyoshi Fujisawa, Managing Director,CEO
Contact: Shigeyoshi Asano, Director
Telephone: +65-6535-5152

The reason for J Trust’s sudden fall of share price

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Purchase of Group Lease PCL Shares by J Trust Subsidiary”. Please refer to the attachment.

October 17, 2017

Company Name: J Trust Co., Ltd.
(Listed on Second Section of the Tokyo Stock Exchange, code 8508)
Representative: Nobuyoshi Fujisawa, President & CEO
Contact: Taiji Hitachi, Director and Executive Officer
Telephone: +81(3) 4330-9100

The reason for J Trust’s sudden fall of share price

One of the reason J Trust’s share price fell on October 16, 2017 is due to the halt trading of Group Lease (hereinafter, “GL”), by Stock Exchange of Thailand (hereinafter, “SET”).

According to news release announced on website of The Securities and Exchange Commission (hereinafter, “SEC”), Chief Executive Officer Mr. Mitsuji Konoshita from GL had falsification and corporate fraud case. SEC has filed a criminal complaint with the Department of Special Investigation (DSI) against Mr. Mitsuji Konoshita. J Trust recognizes that Mr. Mitsuji Konoshita has already resigned and lost the qualification for holding the positions of directors and executives in GL.

According to SET, it coordinated GL to clarify the company’s action to this case but GL failed to do so. As a result, SET temporarily suspended trading of GL yesterday because it will affect to the management and business operation. However, SET has lifted the trading suspension today. The reason is that GL has clarified relevant material information to SET.

J Trust Asia (hereinafter, “JTA”), a subsidiary of J Trust, is holding 122,163,100 of GL’s common shares (ownership ratio: 8.01%) and 180 million USD of convertible bonds. Also JTA takes a 20% stake of Group Lease Finance Indonesia, a company which GL established in Indonesia.

Regarding the impact to business results of J Trust, we are carefully monitoring the situations and we will appropriately respond and promptly disclose information if it is necessary.

Thank you for your corporation.

-End-

 PDF(196KB)

TOP MESSAGE

We have been going...

ABOUT J TRUST ASIA

J TRUST ASIA's info..