Rigo Precision Machinery: Italian company MCM applies for bankruptcy.

Nifco announced that its wholly-owned subsidiary in Italy, MCM, is unable to repay its due debts and is facing a liquidity shortage due to continuous losses. The board of directors has approved MCM's application for bankruptcy. The combined losses of MCM from 2022 to 2024 accounted for 1.53%, 4.57%, and 20.40% of the company's total losses, with a further increase in the proportion from January to March 2025. Filing for bankruptcy is beneficial for reducing losses, easing burdens, and lowering future operational risks. MCM's assets and operations are located overseas and are relatively independent from the company's domestic operations and finances. The bankruptcy application is not expected to have a significant impact on the company's domestic main business. The company does not expect to recover the investment and debt amounts related to MCM, with the specific amounts subject to audit by accountants. There is uncertainty about whether the court will accept the bankruptcy application and the final ruling.