On January 26th, Tanaka Precision Machinery announced that the sixth meeting of the fifth board of directors will be held on January 26th, 2025, and the proposal to approve the application for bankruptcy liquidation of its controlling subsidiary, Shenzhen Youfu Intelligent Equipment Co., Ltd. (Youfu Intelligent), has been approved. Yufu Intelligent is unable to repay its maturing debts, and all assets are insufficient to pay off all debts. The board of directors of the company agrees to allow Youfu Intelligent to apply for bankruptcy liquidation to the court.
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