Temporary suspension of the Okinawa Plant and consolidation of production at the Izumi Plant
First written in FY2019-Q2. 3 of 7 entries say "Advanced", first in FY2019-Q3. Latest entry: FY2021-Q1.
No other company in this theme has enough history to compare yet.
- FY2021-Q1AdvancedAnnual report
「The Company requested that its lending financial institutions defer repayment of loan principal and obtained their consent. In connection with the sale of the Izumi Plant in March 2020, it repaid approximately ¥1,620 million, and began making scheduled monthly repayments under a new repayment plan in April 2020.」
As part of the structural reforms, the Izumi Plant was sold, and repayment of borrowings using the sale proceeds and scheduled repayments under a new repayment plan began. - FY2020-Q3ReframedAnnual report
「On 13 September 2019, the Company resolved to withdraw from the diamond-wire production business and solicit voluntary retirements from employees in the related departments. On 15 November 2019, it resolved to transfer the land and buildings of the Izumi Plant, formerly its main diamond-wire production plant, and on 17 December 2019, it entered into a sale and purchase agreement. (Following the decision to transfer the Izumi Plant, the resolution to close Izumi Plant No. 2 was withdrawn and the plant was retained for continued use.)」
The plan was revised from restructuring centred on plant closures and consolidating production at the Izumi Plant to structural reforms combining withdrawal from the diamond-wire production business, the sale of the main plant and continued use of Izumi Plant No. 2. - FY2020-Q2ReframedAnnual report
「In the electronic-materials slicing-related business, the selling price of diamond wire, which had been declining since the previous fiscal year, continued to fall after the start of the current fiscal year. The Company undertook structural reforms, including resolving on 15 May 2019 to close the Okinawa Plant and Izumi Plant No. 2, both diamond-wire production plants, and resolving on 13 September 2019 to withdraw from the diamond-wire production business.」
The restructuring policy shifted from closing the Okinawa Plant and Izumi Plant No. 2 and consolidating production at the Izumi Plant to withdrawing from the diamond-wire production business itself and moving to equipment sales and technology licensing. - FY2020-Q1RestatedAnnual report
「We resolved to close the Okinawa Plant and Izumi Plant No. 2, which produce diamond wire, and decided to focus on producing ultrafine diamond wire.」
The production-system restructuring policy was reaffirmed, centred on closing the Okinawa Plant and Izumi Plant No. 2 and consolidating management resources at the Izumi Plant (D-Next). - FY2019AdvancedAnnual report
「In the Electronic Materials Slicing-Related Business, in response to the recent decline in diamond wire prices, at a meeting of the Board of Directors held on 15 May 2019 we resolved to close the Okinawa Plant and Izumi Plant No. 2, formerly diamond wire production facilities, in order to reduce fixed costs and contain cash outflows by downsizing the production system.」
The plan progressed from temporarily suspending the Okinawa Plant and consolidating production at the Izumi Plant to concrete downsizing measures involving resolutions to close the Okinawa Plant and Izumi Plant No. 2. - FY2019-Q3AdvancedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, our group temporarily suspended operations at the Okinawa Plant, one of the diamond wire manufacturing sites, in order to consolidate management resources. As a result, the number of employees in the Electronic Materials Slicing-Related Business decreased by 71.」
The temporary suspension of the Okinawa Plant and consolidation of production resolved in Q2 were implemented, advancing measures to reduce fixed costs, including workforce reductions. - FY2019-Q2First statedAnnual report
「The Board of Directors resolved at a meeting held on 26 October 2018 to temporarily suspend operations at the Okinawa Plant and consolidate management resources at the Izumi Plant, the Group’s main plant. The Group will also work to substantially reduce fixed costs by thoroughly optimising its production system and reducing controllable expenses.」
As measures addressing the going-concern assumption, the Group newly identified the temporary suspension of the Okinawa Plant, consolidation of production resources at the Izumi Plant, optimisation of the production system and reduction of controllable expenses.