Closure and consolidation of UK sites following the end of production by a major customer
First written in FY2020-Q3. 3 of 8 entries say "Restated". Latest entry: FY2022-Q2.
No other company in this theme has enough history to compare yet.
- FY2022-Q2MitigatedAnnual report
「The segment recorded a loss of ¥51 million, compared with a segment loss of ¥78 million in the same period of the previous year, due to ocean freight costs, higher cost of sales resulting from surging raw material prices, and lower expenses following the facility consolidation, among other factors.」
The reduction in expenses following the consolidation of the UK base was noted, and the European segment loss narrowed from ¥78 million in the same period of the previous year to ¥51 million. At the same time, the effects of the semiconductor shortage, ocean freight costs and surging raw material prices remained. - FY2022-Q1MitigatedAnnual report
「The segment recorded a loss of ¥7 million, compared with a segment loss of ¥23 million in the same period of the previous year, despite lower expenses following the facility consolidation, due mainly to higher ocean freight and other costs.」
Expenses declined following the consolidation of the UK base, narrowing the European segment loss from ¥23 million in the same period of the previous year to ¥7 million. At the same time, higher ocean freight costs were identified as a new factor contributing to the loss. - FY2021AchievedAnnual report
「July 2020: The headquarters of OHASHI TECHNICA UK, LTD. were relocated to Washington, Tyne-and-Wear, UK (current consolidated subsidiary).」
The closure of the UK Swindon facility and its relocation and consolidation with the Northern Branch following the end of production by a major customer were completed with the relocation of the headquarters in July 2020. - FY2021-Q3RestatedAnnual report
「Segment loss was ¥74 million, compared with a segment loss of ¥33 million in the same period of the previous year, due to lower sales, higher procurement costs for imported products resulting from sterling depreciation, and costs associated with site consolidation.」
Costs associated with the consolidation of the UK base following the end of production by a major customer and other items continue to be reflected in the results as factors contributing to the European segment loss. - FY2021-Q2RestatedAnnual report
「The sluggish sales volumes of Japanese automakers since the first half of the previous fiscal year, compounded by the impact of the spread of COVID-19, resulted in a significant production decline at major customer manufacturers. As a result, revenue was ¥339 million, down 53.5% year on year. Segment loss was ¥78 million, compared with a segment loss of ¥15 million in the same period of the previous year, due to lower sales, higher procurement costs for imported products resulting from sterling depreciation, and costs associated with site consolidation.」
Costs associated with the consolidation of the UK base and other items continue to be reflected in the results as factors contributing to the European segment loss. - FY2021-Q1RestatedAnnual report
「Segment loss was ¥23 million, compared with segment profit of ¥0 million in the same period of the previous year, due to lower sales, higher procurement costs for imported products resulting from sterling depreciation, and costs associated with site consolidation.」
Costs associated with the consolidation of the UK base are reflected in the results for the quarter as a factor contributing to the European segment loss. - FY2020MaterialisedAnnual report
「The amount includes ¥40.274 million in expenses arising from the reduction of the carrying amount of lease assets that were no longer expected to be used in connection with the relocation of the UK facility of OHASHI TECHNICA UK, LTD., the Company’s consolidated UK subsidiary, to their recoverable amount.」
Following the end of production by a major customer, the closure and consolidation of the UK base were recognised in the results as facility relocation expenses and an impairment loss of ¥40.274 million. - FY2020-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 5 February 2020, the Company decided to close the Swindon facility of its consolidated subsidiary OHASHI TECHNICA UK, LTD. on 31 March 2020 and relocate and consolidate it with the Northern Branch in Washington, Tyne-and-Wear. The Swindon facility serves as the subsidiary’s headquarters and the delivery point for the major customer. The impact of this facility consolidation on the consolidated financial position and operating results is currently under review.」
Following the major customer automaker’s decision to end production during 2021, the Company decided to close the Swindon facility of OHASHI TECHNICA UK, LTD. on 31 March 2020 and relocate and consolidate it with the Northern Branch. The impact on the consolidated financial position and operating results is under review.