May 29 (Bloomberg) -- Joint Corp., a Japanese real estate developer, filed for bankruptcy protection with liabilities of 168 billion yen ($1.7 billion), making it the country’s third- largest failure of a publicly traded company this year.
Orix has about USD100m equity exposure to Joint, ownng 40% of the company.
Well, Orix already sad it has no impact to Mar 2010 results. That is true, Orix actually has been able to make profits in 2008, in real estate and foreign investments, in magic ways! The same thing happens to Joints, I believe.
So how much is Joint`s value in Orix`s book? How much is the Asia Aluminum`s USD 120mm equity current value, the boldholders only got offers of 13-25 cents?