Astroscale Plans 7.73 Billion Yen Capital Reduction, Surplus to Cover Deficit

Astroscale's (TYO:186A) board has approved a plan to reduce capital and legal capital surplus totaling 7.73 billion yen to offset accumulated retained earnings deficits. The company will transfer capital and legal surplus to other capital surplus before reallocating the full amount to retained earnings to strengthen its financial base, according to a Tokyo bourse filing on Monday. The proposal requires shareholder approval at the July 30 annual general meeting, with an effective date of Sept. 1.