Improving profitability and the financial position through workforce reductions, voluntary retirement and asset reduction
First written in FY2021-Q2. 5 of 6 entries say "Advanced", first in FY2021-Q3. Latest entry: FY2026.
36 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「As a result, businesses other than domestic steel materials generally progressed at planned levels, while the development of strategic businesses and the portfolio review advanced. The company also progressed with improvements to its financial position, including reductions in interest-bearing debt, by reducing assets with a focus on ROIC and CCC.」
Measures to improve profitability and the financial position through fixed-cost reductions and asset reductions expanded to asset reductions focused on ROIC and CCC and reductions in interest-bearing debt. - FY2022-Q3AdvancedAnnual report
「Operating profit increased by ¥2.943 billion year on year to ¥1.596 billion, compared with an operating loss of ¥1.346 billion in the same period of the previous year, due to the recovery in sales, cost reductions from higher production volume and the effect of fixed-cost reductions implemented in the previous fiscal year.」
A recovery in sales, cost reductions from higher production volume and the effect of fixed-cost reductions in the previous fiscal year resulted in a shift from an operating loss to operating profit of ¥1,596 million. - FY2022-Q1AdvancedAnnual report
「Operating profit increased by ¥2.943 billion year on year to ¥1.596 billion, compared with an operating loss of ¥1.346 billion in the same period of the previous year, due to the recovery in sales, cost reductions from higher production volume and the effect of fixed-cost reductions implemented in the previous fiscal year.」
A recovery in sales, cost reductions from higher production volume and the effect of fixed-cost reductions in the previous fiscal year resulted in a shift from an operating loss to operating profit of ¥1.596 billion. - FY2021AdvancedAnnual report
「The company has lowered its break-even point by consolidating its North American sites, soliciting voluntary retirements in Japan and improving workforce efficiency at overseas sites.」
The company explained that it had lowered its break-even point through measures to improve profitability and its financial position, including consolidating North American sites, soliciting voluntary retirements in Japan and improving workforce efficiency at overseas sites. - FY2021-Q3AdvancedAnnual report
「The transfer was completed as part of a review of idle real estate aimed at improving asset efficiency. Transfer price: C$15.0 million (¥1.212 billion); carrying value: C$9.1 million (¥735 million); gain on transfer: C$4.9 million to C$5.4 million (¥396 million to ¥436 million); property handover date: April 2021 (scheduled).」
As part of its plan to reduce idle real estate, the company’s Board of Directors resolved to transfer land owned by MSSC CANADA INC. The transfer price, estimated gain on transfer and scheduled handover in April 2021 were specified. - FY2021-Q2First statedAnnual report
「To resolve this situation, the company will thoroughly reduce fixed costs as part of its profit-generation initiatives by reducing headcount in indirect functions and rigorously selecting capital expenditures. It will also strengthen its financial position by promoting the sale of idle real estate and cross-shareholdings and reducing inventories. Accordingly, the company decided to solicit applications for voluntary retirement to accelerate the improvement of its performance. Number of positions: Approximately 100 Application period: 5 January 2021 (Tuesday) to 22 January 2021 (Friday) Retirement date: 28 February 2021 (Sunday) The company expects to incur approximately ¥800 million in costs, including special retirement payments, in connection with the solicitation of voluntary retirements, and plans to record these as an extraordinary loss in the fiscal year ending March 2021.」
The company identified fixed-cost reductions, the sale of idle real estate and cross-shareholdings, and inventory reductions as improvement measures to strengthen its financial position. As a subsequent event, it decided to solicit voluntary retirements from approximately 100 people. The application period, retirement date and expected costs of approximately ¥800 million were also disclosed.