Production Transfers Outside China in Response to Additional US-China Tariffs
First written in FY2020-Q1. 3 of 6 entries say "Restated". Latest entry: FY2022-Q3.
0 other companies' latest entry also says "Advanced".
- FY2022-Q3AdvancedAnnual report
「Since the fiscal year ended March 2020, the company has taken measures including relocating the main production processes for some product lines in the Branded Products business outside China. For some models exported to the United States, U.S. Customs and Border Protection approved non-application of the additional tariffs on imports from China. Based on that measure, the company reviewed its tariff response and reduced its impact on cost of sales, lowering cost of sales by approximately ¥900 million.」
Following the relocation of production outside China, non-application of additional tariffs was approved for some models exported to the United States, resulting in a reduction of cost of sales by approximately ¥900 million. - FY2022-Q2AdvancedAnnual report
「Since the fiscal year ended March 2020, the company has taken measures including relocating the main production processes for some product lines in the Branded Products business outside China. For some models exported to the United States, U.S. Customs and Border Protection approved non-application of the additional tariffs on imports from China. Based on that measure, the company reviewed its tariff response and reduced its impact on cost of sales, lowering cost of sales by approximately ¥700 million.」
Following the relocation of production outside China, non-application of the additional tariffs on imports from China was approved for some models exported to the United States. Reviewing the tariff response resulted in a reduction of cost of sales by approximately ¥700 million. - FY2021RestatedAnnual report
「To mitigate tariff risks arising from U.S.-China trade friction, the company is optimizing and diversifying its contract manufacturers, including by relocating production of some product lines to regions outside China, while also taking costs into consideration.」
In response to additional tariffs on imports from China, the company continues to relocate some product lines outside China and optimize and diversify its contract manufacturers. - FY2020-Q3RestatedAnnual report
「As one measure addressing additional US tariffs on imports from China, we continued efforts to change production of some product lines from China to outside China within the system operated by our contract manufacturers, which is centered on production in China and exports from China to US sales bases.」
The company continues efforts to relocate production of some product lines outside China in response to additional tariffs on imports from China. - FY2020-Q2RestatedAnnual report
「As one measure addressing additional US tariffs on imports from China, we continued efforts to change production of some product lines from China to outside China within the system operated by our contract manufacturers, which is centered on production in China and exports from China to US sales bases.」
The company continues to relocate some product lines from its China-centered production structure to locations outside China. - FY2020-Q1First statedAnnual report
「As one measure addressing the issue of additional US tariffs on imports from China, we began efforts to change production of small product lines from China to outside China within the production and export system operated by our contract manufacturers, which is centered on production in China and exports from China to global sales bases.」
As a response to additional U.S. tariffs on imports from China, the company began efforts to relocate small product lines from its China-centered production structure to locations outside China.