Fundamental Management Rationalization at PAGO’s German Factory
First written in FY2017. 6 of 9 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2022-Q2.
No other company in this theme has enough history to compare yet.
- FY2022-Q2AdvancedAnnual report
「The company recognized expected losses arising from entering into an agreement to transfer Pago AG's tuck-label business. The breakdown was an inventory valuation loss of ¥187 million and impairment losses of ¥125 million on machinery and other assets.」
Regarding the PAGO restructuring, the company recognized ¥312 million in losses associated with entering into an agreement to transfer Pago AG's tuck-label business, advancing to a concrete restructuring stage involving a business transfer. - FY2021-Q3Update to cumulative restructuring costsAnnual report
「These were headcount reduction and other costs associated with an intra-group reorganization integrating Pago AG's tuck machinery business into Pago Etikettiersysteme GmbH.」
PAGO recognized ¥116 million in restructuring and other costs associated with the integration of its tuck machinery business, updating the disclosed cost amount from the previous quarter. - FY2021-Q2AdvancedAnnual report
「During the six-month period ended 30 September 2017, the company recognized ¥105.150 million in headcount reduction and other costs associated with an intra-group reorganization integrating the tuck machinery business of its consolidated subsidiary Pago AG into Pago Etikettiersysteme GmbH.」
PAGO implemented an intra-group reorganization to integrate the tuck machinery business into its German operation and recognized ¥105.15 million in headcount reduction and other costs. - FY2020-Q3RestatedAnnual report
「In terms of earnings, the company had advanced initiatives aimed at achieving its medium-term management plan, but operating losses continued because sales remained sluggish.」
The company continues to describe initiatives to improve PAGO's operations, but does not present any new implementation milestones for the restructuring. - FY2018AdvancedAnnual report
「The company had initially estimated costs of approximately ¥2 billion for the restructuring to improve profitability announced in May last year, but the actual amount was ¥1,376 million.」
Regarding the restructuring of the PAGO German plant, the company recognized ¥1,376 million for the full year, including early-retirement costs, impairment losses and other restructuring costs, disclosing the outcome of the plan's implementation. - FY2018-Q3AdvancedAnnual report
「During the nine-month period ended 31 December 2017, the company recognized ¥1,473.758 million in costs associated with restructuring, including headcount reductions, at Pago Etikettiersysteme GmbH (the Pago German plant), the German operation of the Swiss-headquartered PAGO Group, based on a resolution of the company's board of directors dated 2 May 2017. The breakdown was ¥1,081.877 million in early-retirement costs, ¥183.117 million in impairment losses (¥129.050 million for buildings and ¥54.067 million for machinery), and ¥208.762 million in other restructuring costs. Of the restructuring costs, the impairment losses were as follows. During the nine-month period ended 31 December 2017, the carrying amounts of production equipment and other assets that became idle following changes to the operating structure associated with the restructuring were reduced to their recoverable amounts.」
Regarding the restructuring of the PAGO German plant, the company recognized ¥1,473.758 million in restructuring costs, including early-retirement costs and impairment losses on idle production equipment and other assets, making the implementation more concrete. - FY2018-Q2AdvancedAnnual report
「During the six-month period ended 30 September 2017, the company recognized ¥1,439.215 million in costs associated with restructuring, including headcount reductions, at Pago Etikettiersysteme GmbH (the Pago German plant), the German operation of the Swiss-headquartered PAGO Group, based on a resolution of the company's board of directors dated 2 May 2017.」
The PAGO German plant recognized ¥1,439.215 million in costs associated with restructuring, including headcount reductions, and the restructuring advanced to the stage at which costs were incurred. - FY2018-Q1AdvancedAnnual report
「Pago Etikettiersysteme GmbH (the Pago German plant), the German operation of the Swiss-headquartered PAGO Group, reached a broad agreement on 4 July 2017 regarding severance terms and other matters following discussions with the works council. Costs associated with restructuring, including headcount reductions, are expected to arise from the second quarter onward. / The company implemented a revival plan aimed at improving profitability from 2015, but as the external environment has changed significantly, including industry consolidation among competitors, it will undertake fundamental restructuring, including further headcount reductions of approximately 100 people. / Restructuring costs of approximately ¥2 billion, including headcount reduction costs, are expected to be recognized as extraordinary losses in the consolidated results for the fiscal year ending March 2018.」
The PAGO German plant reached a broad agreement on severance terms and other matters through labor-management discussions and proceeded to the stage of implementing restructuring, including a headcount reduction of approximately 100 people. Restructuring costs of approximately ¥2 billion are expected to arise from the second quarter onward and be recognized as extraordinary losses for the fiscal year ending March 2018. - FY2017First statedAnnual report
「The company implemented a revival plan aimed at improving profitability from 2015, but as the external environment has changed significantly, including industry consolidation among competitors, it will undertake fundamental restructuring, including further headcount reductions of approximately 100 people. Restructuring costs of approximately ¥2 billion, including headcount reduction costs, are expected to be recognized as extraordinary losses in the consolidated results for the fiscal year ending March 2018.」
In addition to the existing revival plan, the company will implement restructuring at the Pago German plant during the fiscal year ending March 2018, including a headcount reduction of approximately 100 people, and expects costs of approximately ¥2 billion.