SCAPIN-1585: APPLICATION OF JAPAN Y. S. SOAP COMPANY, LTD. (NIPPON Y. S. SEKKEN K.K.), TO BE REMOVED FROM THE SCHEDULE OF RESTRICTED CONCERNS
GENERAL HEADQUARTERS
SUPREME COMMANDER FOR THE ALLIED POWERS
APO 500
26 March 1947
AG 095
(26 Mar 47)
ESS/AC
(SCAPIN-1585)
| MEMORANDUM FOR | IMPERIAL JAPANESE GOVERNMENT. |
|---|---|
| THROUGH | Central Liaison Office, Tokyo. |
| Subject | Application of Japan Y. S. Soap Company, Ltd (Nippon Y. S. Sekken K. K.), to be Removed from the Schedule of Restricted Concerns. |
1. References are the following:
a. Central Liaison Office Memorandum 5701 (LO 1888/1104) dated 28 October 1946, subject: Application of Nippon Y. S. Soap Co., Ltd. for Its Release from Schedule of Restricted Concerns.
b. Memorandum for the Imperial Japanese Government from General Headquarters, Supreme Commander for the Allied Powers, AG 004 (8 Dec 45) ESS/AC (SCAPIN-403), dated 8 December 1945, subject: Establishment of a Schedule of Restricted Concerns.
c. Memorandum for the Imperial Japanese Government from General Headquarters, Supreme Commander for the Allied Powers, AG 004 (21 May 1946)ESS/AC, (SCAPIN-972), dated 21 May 1946, subject: Addition of Nissan Chemical Industrial Company, Ltd, and its Subsidiaries to Schedule of Restricted Concerns.
2. Reference memorandum 1a, above. forwards application of Japan Y. S. Soap Company, Ltd, for removal from the Schedule of Restricted Concerns established by reference memorandum 1b, above, to which it was added by reference memorandum 1c, above.
3. The Japan Y. S. Soap Company, Ltd, is hereby removed from the Schedule of Restricted Concerns and the addition referred to in paragraphs 1b and 1c, above, respectively. Bank accounts of the Japan Y. S. Soap Company, Ltd, will be transferred to the Holding Company Liquidation Commission which will hold them on behalf of Nissan Chemical Industry, Ltd, pending reorganization of the latter company.
FOR THE SUPREME COMMANDER:
JOHN B. COOLEY,
Colonel, AGD,
Adjutant General.
MEMO FOR RECORD: (SCAPIN - 1585)
27 February 1947
1. CLO Memorandum No. 5701 (LO 1888.1104), 28 October 1946, forwards application of Japan Y.S. Soup Company, Ltd, a subsidiary of Nissan Chemical Industry, Ltd, and added on 21 May 1946 to the Schedule of Restricted Concerns, pursuant to SCAP Memorandum AG 004 (8 Dec 45) ESS/AC (SCAPIN-403), subject: "Establishment of a Schedule of Restricted Concerns," for permission to be removed from the Schedule of Restricted Concerns.
2. Japan Y. S. Soap Company, Ltd, is capitalized at ¥180,000. and has assets in excess of ¥290,000. It is presently not in operation.
3. This company closed its business on 10 November 1943 and began dissolution proceedings on 10 February 1945. Since that time it has been under the management of a liquidator. The company was being liquidated at the time it was added to the Schedule of Restricted Concerns. It has no office, no employees and no physical property. Its assets consist solely of a bank account totalling ¥293,606.03, of which ¥120,000. is in its Second Restricted Deposit Account. It has liabilities of ¥17,950.02, leaving a balance of ¥275,656.01. All of the stock is owned by the parent company, Nissan Chemical Industry, Ltd. The company now wishes to be removed from the Schedule of Restricted Concerns so that it can pay its remaining debts and turn over its assets to the stockholders, in this case, the parent company. The applicant then will be completely out of existence. That part of the bank account which is a Second Restricted Deposit account also will be a Second Restricted Deposit Account of the transferee.
4. The Holding Company Liquidation Commission is prepared to set up a bank account in the name of Nissan Chemical Industry, Ltd, to which these funds can be transferred so that the Nissan Chemical Industry, Ltd, will gain no profit by this procedure. There is no excuse for this company to remain in existence and pay the salary of a liquidator, nor to remain on the Schedule of Restricted Concerns. Therefore, no objection is offered to this application.
5. This is an administrative matter and no surveillance by the Eighth Army is required.
6. The interests of USAFIK are not concerned.
7. Concurrences: ESS/FI (Lt. Col. D. H. Hennings); ESS/LE (Mr. E. J. Carrington).
V. H. K. 2-2439
