Fundamental measures to move the Thai subsidiary away from persistent losses
First written in FY2020-Q3. 1 of 4 entries say "Worsened", first in FY2020. Latest entry: FY2021-Q3.
The whole theme swung hardest in 2018: 1 of 9 companies on the "Worse" side.
0 other companies' latest entry also says "Achieved".
- FY2021-Q3AchievedAnnual report
「In connection with the transfer of shares in Seika YKC Circuit (Thailand) Co., Ltd., the subsidiary engaged in the manufacture and sale of printed circuit boards, on 6 January 2021, the company reviewed the recoverability of deferred tax assets and consequently recognized deferred tax assets related to the event.」
Regarding the withdrawal from the Thai subsidiary's printed circuit board business decided in the previous quarter, the share transfer was carried out on 6 January 2021. The measure was completed after the policy changed from ending the loss-making structure to withdrawing from the business. - FY2021-Q2ReframedAnnual report
「At a meeting of the Board of Directors on 10 September, Seika YKC Circuit (Thailand) Co., Ltd.'s printed circuit board business was decided to be suspended at the end of October. After considering the company's future direction, the company decided to withdraw from the business because its reconstruction would require additional investment and time. In connection with the withdrawal, the shares will be transferred to a party capable of making use of the company's assets.」
The company changed its policy from comprehensive measures aimed at ending the Thai subsidiary's loss-making structure to suspending and withdrawing from the printed circuit board business. The transfer of all shares was scheduled for 6 January 2021. - FY2020WorsenedAnnual report
「Seika YKC Circuit (Thailand) Co., Ltd., which operates the printed circuit board manufacturing business, recorded an impairment loss on fixed assets after signs of impairment were identified.」
Although measures had been outlined to end the Thai subsidiary's loss-making structure, declining profitability became apparent during the year, and the company recorded an impairment loss of ¥2,147 million on fixed assets. - FY2020-Q3First statedAnnual report
「Seika YKC Circuit (Thailand) Co., Ltd., the Thai subsidiary, is undertaking comprehensive measures to break away from its loss-making structure.」
The company explicitly stated for the first time that its Thai subsidiary was undertaking comprehensive measures aimed at breaking away from its loss-making structure.