Withdrawal from the Wiring-Harness Business at the Zhejiang Plant in China
First written in FY2026-H1. 3 of 9 entries say "Advanced", first in 2026-05-14. Latest entry: 2026-08-07.
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- FY2026AchievedAnnual report
「The performance of our group for the consolidated fiscal year was as follows. Sales declined due to the withdrawal from the wire harness business in China, resulting in net sales of ¥62,400 million, down 4.6% year on year.」
The withdrawal from the Chinese wire harness business was reflected in full-year results, with a ¥605 million gain on sale of fixed assets and an ¥854 million business restructuring loss also recorded. The business withdrawal was reported for the full year as completed. - FY2026-H1First statedAnnual report
「The company withdrew from the wire harness business at its Chinese subsidiary Zhejiang Yashidi Electronics Co., Ltd. in September 2025. Following the discontinuation of the wire harness business at Zhejiang Yashidi Electronics Co., Ltd., the company recorded ¥392.615 million as an extraordinary loss for business restructuring, comprising economic compensation payments to employees and inventory write-downs.」
Production at the Zhejiang plant, which manufactured wire harnesses for Chinese EV manufacturers, ended in August 2025, followed by withdrawal from the business in September 2025. A business restructuring loss of ¥392.615 million was recorded for economic compensation payments to employees and inventory write-downs, and unneeded fixed assets were also sold.