Optimization of the global production structure following the shutdown of Nikon Imaging China
First written in FY2018-Q2. 2 of 4 entries say "Advanced", first in FY2018-Q3. Latest entry: FY2020-Q2.
3 other companies' latest entry also says "Achieved".
- FY2020-Q2AchievedAnnual report
「During the consolidated second quarter, the liquidation of Nikon Imaging (China) Co., Ltd., a Chinese production subsidiary, was completed.」
Following the shutdown of NIC and optimization of the production structure, the liquidation of the Chinese production subsidiary was completed. Upon completion of the liquidation, cumulative translation adjustments of ¥1,753 million were reclassified to other operating expenses. - FY2018AdvancedAnnual report
「In the Imaging business, we pursued a strategy of focusing on high-value-added products while working to optimize our development, production and sales structures.」
Advanced optimization of the production structure, including the shutdown of NIC. In the Imaging business, profitability improvements from structural reforms were reflected in operating income of ¥30,222 million, up 76.2% year on year. - FY2018-Q3AdvancedAnnual report
「During the nine-month period of the current consolidated fiscal year, the company recognized ¥5,933 million in structural reform-related costs under “Other operating expenses,” including enhanced retirement benefits for employees, one-time costs related to consolidating production sites and impairment losses arising from a series of initiatives. Of this amount, ¥3,209 million was recognized as enhanced retirement benefits for employees.」
Following the decision to shut down NIC's operations, costs including additional retirement allowances associated with the consolidation of production sites were recognized, bringing the impact of measures to shut down operations to the surface. - FY2018-Q2First statedAnnual report
「The compact digital camera market has contracted rapidly with the rise of smartphones, causing NIC's utilization rate to fall significantly and making it extremely difficult to continue operations. In light of this situation, we held extensive discussions and carefully examined measures to optimize the global production structure under the Structural Reform Plan announced in November 2016. As a result, we decided to shut down NIC's operations. One-time costs expected to arise during the current fiscal year in connection with the shutdown of NIC are currently estimated at approximately ¥7.0 billion, including tax expenses.」
In response to the contraction of the compact digital camera market caused by the rise of smartphones and NIC's low utilization rate, decided to shut down NIC as a specific measure to optimize the global production structure. One-time costs for the current fiscal year were estimated at approximately ¥7.0 billion.