Temporary suspension of the Hakusan plant and closure of the Mobara plant’s V2 line
First written in FY2019. 3 of 6 entries say "Advanced", first in FY2020. Latest entry: FY2021-Q3.
No other company in this theme has enough history to compare yet.
- FY2021-Q3AdvancedAnnual report
「The sale of the plant, which had been a non-operating asset, reduced liabilities by approximately ¥74.3 billion because the sale proceeds were applied to payments of advances received from customers, with part of the amount offset against accounts receivable. This also contributed to improvements in the balance sheet and cash flow.」
The company stated that, following the transfer of the Hakusan Plant and completion of the handover of the property, applying the advance payment against the transfer consideration reduced liabilities by approximately ¥74.3 billion and improved its financial position. - FY2021-Q2AchievedAnnual report
「The properties were handed over to both companies on 1 October 2020, and the transfer procedures were completed.」
The Company reported the handover of the land, buildings, ancillary facilities and production equipment at the Hakusan Plant to the transferee and completion of the transfer procedures. - FY2021-Q1AdvancedAnnual report
「In addition to this transfer of fixed assets, including certain production equipment to be transferred for US$200 million under an agreement dated 31 March 2020, an estimated total gain on the sale of fixed assets of approximately ¥21,082 million, representing the difference between the carrying value and transfer value at handover, is expected to be recorded as extraordinary income in the fiscal year ending March 2021.」
The process progressed from the temporary suspension of operations at the Hakusan Plant and the transfer of equipment to the additional transfer of production equipment to customers and the transfer of land, buildings and related facilities to Sharp. The transfers are expected to generate approximately ¥21.0 billion in gains on sales of fixed assets in the fiscal year ending March 2021. - FY2020AdvancedAnnual report
「In addition to further reducing fixed costs through the transfer of production equipment and other assets at the company's Hakusan Plant,」
After halting operations at the Hakusan Plant and closing the V2 line, the company entered into an agreement to transfer production equipment and other assets at the Hakusan Plant, moving its fixed-cost reduction efforts toward the sale of equipment. - FY2020-Q2AchievedAnnual report
「During the cumulative period, as part of business-structure reform aimed at further reducing fixed costs, we downsized the mobile business, for which no substantial recovery in demand was expected, temporarily suspended operations at the Hakusan Plant (Ishikawa site, Hakusan, Ishikawa Prefecture) from July 2019, and closed the back-end process line at the Mobara Plant (V2 line, Mobara, Chiba Prefecture).」
Regarding the temporary suspension of operations at the Hakusan plant and the closure of the V2 line at the Mobara plant resolved in FY2019, the company stated that the temporary suspension and line closure had been implemented from July 2019 onward. - FY2019First statedAnnual report
「At a board meeting held on 12 June 2019, the company resolved to scale back its mobile business, for which there was no prospect of a significant recovery in future demand, and accordingly to temporarily suspend operations at the Hakusan Plant (Ishikawa Site, Hakusan, Ishikawa) and close the back-end process line at the Mobara Plant (V2 line, Mobara, Chiba).」
To address sluggish mobile demand and intensifying competition, the company first explicitly stated a plan to temporarily suspend operations at the Hakusan Plant from July through September 2019 and close the V2 line at the Mobara Plant in September 2019. It aims to improve profitability by consolidating production and equipment.