April 26, 2018 Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

April 26, 2018

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

Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Acquisition of Shares of PT. OLYMPINDO MULTI FINANCE (Indonesia) by a consolidated subsidiary of J Trust Co., Ltd.”. Please refer to the attachment.

April 26, 2018

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

Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

J Trust Co., Ltd. (hereinafter, “the Company”) announced its acknowledgement for the current situation regarding Group Lease PCL (hereinafter, “GL”) and our view on the future direction in the previous releases. The Company would like to make further announcement on the subsequent events as of today as follows.

- Developments in Thailand:

  • The Central Bankruptcy Court dismissed the business reorganization petition against GL filed by JTRUST ASIA PTE. LTD. (hereinafter, “JTA”), the decision with which JTA disagrees. JTA submitted the appeal to Central Bankruptcy Court on 17 April 2018 and the Court has accepted the appeal.
  • The Department of Special Investigation informed as follows;
    • With respect to the case filed by the Securities and Exchange Commission against Mr. Mitsuji Konoshita (hereinafter, “Mr. Konoshita”), the Attorney General has assigned to officers of Department of Special Investigation and public prosecutor to be jointly responsible for holding an inquiry, and the case is pending the inquiry.
    • Regarding the complaint filed by JTA against Mr. Konoshita, GL, and other relevant persons, the Department of Special Investigation has accepted the complaint and the matter is pending the investigation for gathering facts and evidence, which will subsequently be forwarded to the Attorney General’s consideration.

- Developments in British Virgin Islands (BVI):

  • In BVI, JTA has obtained a worldwide freezing order against A.P.F. Group Co. Ltd. (hereinafter, “APF”) and Mr. Konoshita APF and Mr. Konoshita sought to discharge the order. Yesterday, the court provided the judgement dated March 20th 2018 that the judge dismissed the application to discharge and ordered that the order continue until determination of the action or further order of the Court.

- Developments in Singapore

  • JTA filed an appeal against the decision of the High Court setting aside the injunctive order that JTA had previously obtained against Group Lease Holdings Pte Ltd, Mr. Konoshita and Cougar Pacific Pte Ltd. The hearing of the appeal took place on 16th April. JTA is waiting for the judgement by the court.

The Company is fully committed to maximizing the value of the Company and the interests of stakeholders with taking advantages of its expertise and experiences.

We will make further disclosure as soon as any further development occurs.

-End-

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