Strengthening production capacity in China through a new joint venture and plant in Changshu
First written in FY2017-Q2. 3 of 6 entries say "Advanced", first in FY2017. Latest entry: FY2020.
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- FY2020Cited as achievedAnnual report
「During the current consolidated fiscal year, 上海日輪汽車配件有限公司 transferred its operations to group companies, including 蘇州日輪汽車部件有限公司.」
The transfer of operations from Shanghai to Suzhou and elsewhere, and the completion of the shutdown of production at 上海日輪, were confirmed in the business description and information on affiliated companies. - FY2019AchievedAnnual report
「As of the end of the current consolidated fiscal year, the transfer of production had been completed and production at SNA had ceased.」
Following construction of the new 蘇州日輪 plant and installation of production equipment, production was fully transferred from 上海日輪, which subsequently ceased production. - FY2019-Q2AdvancedAnnual report
「Of the significant additions and disposals of equipment that were planned at the end of the previous consolidated fiscal year, the following were completed during the first six months of the current consolidated fiscal year. 蘇州日輪汽車部件有限公司, China, Changshu, Jiangsu Province, China, new plant building, ¥2,104 million, May 2019. During the second quarter of the current consolidated fiscal year, the consolidated subsidiary 上海日輪汽車配件有限公司 (hereinafter, “SNA”) completed the land acquisition and plant construction for the new company 蘇州日輪汽車部件有限公司 (hereinafter, “SZN”), and decided to begin transferring production from the end of August 2019.」
The new plant building of 蘇州日輪 was completed in May 2019, and production transfer from 上海日輪 was ready to begin at the end of August 2019. - FY2019-Q1AdvancedAnnual report
「The consolidated subsidiary is currently acquiring land and constructing a plant in preparation for the start of operations in June 2019. In view of future funding needs as construction nears completion, it will conduct a capital increase of CNY61,672 thousand (US$9,200 thousand), increasing capital to CNY211,972 thousand (US$32,200 thousand). The Company will subscribe for the entire capital increase, raising its equity interest from 72% to 80% to further strengthen its China operations.」
Operations at the 蘇州日輪 plant were scheduled to begin in June 2019. The Company alone provided a capital increase of CNY61,672 thousand, raising its equity interest from 72% to 80% and putting the strengthening of its Chinese production base into concrete form. - FY2017AdvancedAnnual report
「蘇州日輪汽車部件有限公司 was established on 19 December 2017. Following completion of plant construction, it plans to gradually transfer the operations of 上海日輪汽車配件有限公司. Planned investment in the new plant building of 蘇州日輪汽車部件有限公司 is ¥2,136 million, and investment in automotive hose equipment is ¥1,024 million. Construction was scheduled to begin in June 2018 and March 2019, respectively, and to be completed in March 2019 and October 2019, respectively.」
The new joint venture in Changshu was established on 19 December 2017 and included in the scope of consolidation. A total of ¥3,160 million was invested in the new plant building and automotive hose equipment, and plans to gradually transfer the operations of 上海日輪 became concrete. - FY2017-Q2First statedAnnual report
「To address these issues proactively, the Company established a new joint venture in Changshu, Jiangsu Province, with 上海北蔡工業有限公司, constructed a new plant, and planned to gradually transfer the operations of 上海日輪 to the joint venture in order to further expand its business. The joint venture was established as follows. (5) Capital Equivalent to US$14 million in yuan (7) Date of establishment December 2017 (scheduled) (8) Equity interests The Company: 72%; 上海北蔡工業有限公司: 28%」
To accommodate the expansion of orders received by 上海日輪, the Company introduced a plan to establish a new joint venture with 上海北蔡工業有限公司 in Changshu, Jiangsu Province, and construct a new plant. Capital was equivalent to US$14 million in yuan, the Company's equity interest was 72%, and establishment was scheduled for December 2017. The operations of 上海日輪 were to be gradually transferred to the new company, which was scheduled to be liquidated after the transfer of all operations.