Court Rejects Funai Chair's Rehab Request

Tokyo, March 19 (Jiji Press)--Tokyo District Court has rejected an application for civil rehabilitation proceedings filed by Funai Electric Co. Chairman Yoshiaki Harada.

The court had already approved liquidation of the struggling audio and video equipment maker based in Daito, Osaka Prefecture, in response to a Funai executive's bankruptcy filing in October 2024.

But Harada, former environment minister, asked the court to apply the civil rehabilitation law in December, saying Funai's business reconstruction would be possible. Earlier this month, Harada announced rehabilitation plans featuring fresh funding worth some 23 billion yen.

According to people close to him, the court turned down the request effective Friday as it is believed to have found it impossible to revitalize the company.

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