Tokyo Metallic Communications Corp., an Internet access service provider specializing in digital subscriber lines, faces a management crisis due to fundraising problems, the company's president said Tuesday.
Iwao Tojo issued a comment saying, "It is a fact that we are hard-pressed for capital, but we are in talks on a capital tieup and services will continue."
After mentioning a plan to sell new shares to a third party next month, he said, "The monthly sales volume will be 300 million yen, and if we succeed in business reforms our operating balance sheet will turn to the black after this fall."