Review of Products Handled by Chinese Subsidiary and Workforce Efficiency Measures
First written in FY2020-Q3. 2 of 4 entries say "Restated". Latest entry: FY2021.
- FY2021RestatedAnnual report
「During the consolidated fiscal year, 広東発爾特克汽車用品有限公司, formerly a consolidated subsidiary, was excluded from the Group because all of its equity interests were transferred.」
The company has reconfirmed that, following the suspension and reorganization of the Chinese subsidiary’s business, all equity interests in 広東発爾特克汽車用品有限公司 were transferred and the company was excluded from the scope of consolidation. - FY2021-Q3AdvancedAnnual report
「広東発爾特克汽車用品有限公司 was excluded from the scope of consolidation on 30 September 2020 because it had ceased business activities, and was also excluded from the subsidiaries on 16 November 2020 following the sale of all its shares.」
As part of the reorganization of the Chinese subsidiary, 広東発爾特克汽車用品有限公司 was excluded from the scope of consolidation on 30 September 2020 after suspending its business, and all its shares were sold on 16 November. - FY2020RestatedAnnual report
「Segment profit was ¥932 million, down 9.9% from the previous consolidated fiscal year, as the benefits of workforce efficiency measures resulting from the reorganization of the Chinese subsidiary and other factors were insufficient to offset the impact of lower operating levels at the Thai subsidiary and increased preparation costs for new vehicle launches.」
While confirming the benefits of workforce efficiency measures from the reorganization of the Chinese subsidiary, the Asia segment reported lower profit due to lower operating levels and other factors. - FY2020-Q3First statedAnnual report
「Revenue, excluding intersegment revenue, was ¥7,743 million, down 10.8% year on year, due to the impact of lower customer production caused by market stagnation and a review of products handled by the Chinese subsidiary, among other factors. Segment profit was ¥534 million, down 22.0% year on year, as the benefits of workforce efficiency measures resulting from the reorganization of the Chinese subsidiary and other factors were insufficient to offset the impact of lower operating levels.」
The company stated that it reviewed products handled by its Chinese subsidiary and proceeded with a reorganization, generating benefits from workforce efficiency measures. However, these benefits were insufficient to offset the impact of lower operating levels, resulting in lower revenue and profit in the Asia segment.