Kinugawa Rubber Industrial Co. Ltd. (TYO:5196) has written off some of the debt held by consolidated subsidiary Kinugawa Mexico SA De Cv. Writing off this debt is intended to free Kinugawa Mexico of excessive liabilities and fortify its financial footing. The debts forgiven, including accounts receivable, amounts to $13 million. This move means Kinugawa Rubber Industrial has booked approximately 1.47…
