Consolidation and Shutdown of Manufacturing Facilities in the U.S. Automotive Glass Business
First written in FY2021-Q3. 1 of 4 entries say "Advanced", first in FY2021. Latest entry: FY2023-Q1.
2 other companies' latest entry also says "Achieved".
- FY2023-Q1AchievedAnnual report
「The 2 European and U.S. automotive glass companies whose share transfers were completed on 7 May were excluded from the scope of consolidation from the beginning of the first quarter of the current consolidated fiscal year.」
The share transfers of 2 automotive glass companies in the United States and Europe were completed on 7 May 2022, and the companies were excluded from the scope of consolidation from the current quarter. - FY2022ReframedAnnual report
「We have decided to transfer the European and U.S. automotive glass businesses and focus the future glass business on improving the domestic business.」
The restructuring framework changed from the specific measure of consolidating and shutting down facilities for the U.S. automotive glass business to the transfer of the entire automotive glass businesses in the United States and Europe. The share transfer was completed on 7 May 2022. - FY2021AdvancedAnnual report
「At the end of the current consolidated fiscal year, total assets declined by ¥13,436 million from the end of the previous consolidated fiscal year due mainly to decreases in property, plant and equipment resulting from depreciation, impairment and the disposal of unprofitable facilities at the U.S. subsidiary, despite an ¥8,283 million increase in investment securities resulting partly from higher share prices, among other factors.」
The disposal of unprofitable facilities at the U.S. subsidiary is reported as an actual result, indicating progress in the policy of consolidating and shutting down facilities for the U.S. automotive glass business. - FY2021-Q3First statedAnnual report
「We had been considering consolidating manufacturing facilities to improve the profitability of our automotive glass business in the United States. We have now decided to shut down some of the company’s processed automotive glass manufacturing facilities and dispose of those facilities and related inventories.」
As measures to improve the profitability of the U.S. automotive glass business, the company decided to consolidate manufacturing facilities, shut down some facilities and dispose of them. It plans to recognize ¥737 million in cost of sales and ¥2,524 million in extraordinary loss for the fiscal year ending March 2021.