Recovery of profitability and business turnaround at Permasteelisa
First written in FY2019. 3 of 7 entries say "Advanced", first in FY2020-Q1. Latest entry: FY2021-Q2.
2 other companies' latest entry also says "Reframed".
- FY2021-Q2ReframedAnnual report
「The share transfer was completed on 30 September 2020.」
The theme of restoring Permasteelisa's profitability and turning around the business shifted from continuing the turnaround to concentrating resources on the core businesses through the transfer of all shares on 30 September 2020. - FY2021-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 1 May 2020, the Company decided to transfer 100% of the issued shares of Permasteelisa S.p.A. held by its consolidated subsidiary LIXIL Corporation to Atlas Holdings LLC, and entered into a share transfer agreement on the same date.」
The policy advanced from pursuing the recovery of Permasteelisa's profitability and business turnaround to signing an agreement to transfer all shares to Atlas Holdings LLC. The transfer was scheduled to be completed after obtaining approval from the regulatory authorities in the relevant countries. - FY2020ReframedAnnual report
「Through the transfer of its shares in the company, the Group is expected to concentrate investment of management resources on its core businesses, promote synergies among businesses, invest in new businesses and businesses with high profit growth, improve management efficiency and reduce risks different from those of its core businesses.」
The policy shifted from pursuing the recovery of Permasteelisa's profitability and business turnaround to selling the company and concentrating resources on the core businesses. - FY2020-Q3AdvancedAnnual report
「In the Building Technology business, the domestic business was broadly flat, while overseas operations continued to rigorously apply selective bidding aimed at restoring profitability. Revenue declined 4.2% to ¥193.918 billion, partly due to the impact of translating foreign-currency results amid the depreciation of the euro. The business loss was ¥6.305 billion, compared with a business loss of ¥8.137 billion in the same quarter of the previous year, reflecting the impact of low-gross-margin projects previously won overseas and costs incurred in implementing the turnaround plan.」
The business loss in the Building Technology business narrowed from ¥8.137 billion in the previous year to ¥6.305 billion through rigorous selective bidding and implementation of the turnaround plan. - FY2020-Q2WorsenedAnnual report
「In the Building Technology business, the domestic business was broadly flat, while the overseas business recorded higher revenue year on year on a local-currency basis. However, the impact of translating foreign-currency results amid a sharp depreciation of the euro reduced revenue, which declined 2.1% to ¥127.597 billion. The business loss widened to ¥4.212 billion, compared with a business loss of ¥3.723 billion in the same quarter of the previous year, partly due to the impact of low-gross-margin projects previously won in overseas markets.」
The business loss in the Building Technology business widened from ¥3.723 billion in the previous year to ¥4.212 billion, due mainly to the impact of low-gross-margin projects previously won. - FY2020-Q1AdvancedAnnual report
「In the Building Technology business, domestic and overseas operations were generally flat year on year on a local-currency basis. However, revenue declined 1.6% to ¥61.13 billion due partly to the impact of translating foreign-currency results amid the depreciation of the euro. The business loss improved to ¥2.927 billion, compared with a business loss of ¥3.132 billion in the same quarter of the previous year.」
The business loss in the Building Technology business narrowed from ¥3.132 billion in the previous year to ¥2.927 billion, indicating measurable improvement toward a business turnaround. - FY2019First statedAnnual report
「We will advance the business turnaround of Permasteelisa and other businesses.」
The new management plan identifies the business turnaround of Permasteelisa as an independent initiative within its strategic direction.