Relocation of the Suzhou plant and establishment of a regional headquarters for sales in China
First written in FY2020-Q2. 3 of 6 entries say "Advanced", first in FY2020-Q3. Latest entry: FY2022-Q3.
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- FY2022-Q3AchievedAnnual report
「Following completion of the relocation of the consolidated subsidiary in Suzhou, China, to its new plant, we recorded the ¥1,136 million received from the Suzhou municipal government as subsidy income.」
Completion of the Suzhou subsidiary's relocation to the new plant was disclosed, and the related ¥1,136 million subsidy was recorded as income. - FY2022-Q2AchievedAnnual report
「Our consolidated manufacturing subsidiary, 蘇州日本電波工業有限公司 (established in January 1994 in Suzhou, Jiangsu Province, China), was excluded from consolidation because it transferred all of its business to 蘇州日電波電子工業有限公司 (established in November 2019 in Suzhou, Jiangsu Province, China) and was liquidated.」
Regarding the relocation of the Suzhou plant and the reorganization of the sales headquarters function for China, the former Suzhou subsidiary transferred all of its business to the new company and was liquidated, resulting in its exclusion from consolidation. - FY2021-Q2AdvancedAnnual report
「The transfer of these shares was completed on 30 October 2020. Accordingly, NSD changed from a consolidated subsidiary of the company to an equity-method affiliate.」
Regarding the restructuring of the business structure, including the SAW business, the transfer of 51% of NSD's shares was executed, and cooperation with external capital progressed from the contractual stage to the implementation stage. - FY2021-Q1AdvancedAnnual report
「On 3 June 2020, we decided to transfer 51% of the shares of NSD to Jiaxing Jiawang Investment Partnership (Limited Partnership), an investment subsidiary of JIC Technology Investment Co., Ltd., and entered into a share transfer agreement.」
A share transfer agreement for 51% of NSD's shares was signed, moving the SAW filter business toward a joint venture with external capital at the specific contractual stage. The share transfer is scheduled for 31 August 2020. - FY2020-Q3AdvancedAnnual report
「We recorded ¥2,410 million in costs associated with the relocation of the consolidated subsidiary in China, 蘇州日本電波工業有限公司, as restructuring costs in other operating expenses.」
Economic compensation payments to employees and other costs associated with relocating the plant of 蘇州日本電波工業有限公司 were incurred, and ¥2,410 million was recorded as restructuring costs. The relocation plan has progressed to the implementation stage, involving the incurrence of expenses. - FY2020-Q2First statedAnnual report
「We decided to relocate the plant that had been operating in Suzhou, Jiangsu Province, China, to another location within the city and establish a new company at the relocation site with regional headquarters functions for our sales subsidiary in China. We expect to record approximately ¥2 billion in economic compensation payments arising from the plant relocation as other operating expenses in the fiscal year ending March 2020.」
The Company presented a plan to relocate the Suzhou plant within the city and establish a new company at the relocation site with regional headquarters functions for its sales subsidiaries in China. Economic compensation payments associated with the plant relocation are expected to total approximately ¥2 billion and be recorded as expenses in the fiscal year ending March 2020.