Business / Corporate Sep 28, 2020

Leopalace21's excess debts total ¥11.8 billion

Struggling apartment rental firm Leopalace21 Corp. said Monday its debts exceeded assets by ¥11.8 billion 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 ...

Scandal-hit Leopalace21 faces ¥10 billion in excess debt

Business / Corporate Sep 26, 2020

Scandal-hit Leopalace21 faces ¥10 billion in excess debt

Struggling apartment rental firm Leopalace21 Corp. saw its debts exceed assets by about ¥10 billion at the end of June, it was learned Saturday. The negative net worth is due to falling occupancy rates for its apartments, reflecting a scandal over shoddy construction that came ...