Japan Asia Investment Co.(JAIC), a major venture capital firm, said it will adopt an alternative dispute resolution (ADR) in negotiating with over 50 financial institutions to extend its repayment terms of an interests-bearing debt. This scheme is the same as the one selected by Cosmos Initia.
JAIC recorded a net loss of 35 billion yen in fiscal 2008. The company is saddled with about a 46 billion yen debt.
JAIC is one of a few listed VC firms not belonging to any financial groups. This time, being independent put the company into a corner.
May 15, 2009
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