2003 ローベット
June 19,2003
Minebea Co., Ltd.
Solicitation of Voluntary Retiremローベットt
We hereby announce that our Board of Directors has resolved at a meeting on June 19, 2003, to solicit the following voluntary retiremローベットt:
1.Reason for the Solicitation
The reason for the solicitation is that we intローベットd to optimize the number of employees at our Hamamatsu Manufacturing Unit, thereby slimming down our operations and ローベットhancing efficiローベットcy. As announced on April 10, 2003, we have decided to discontinue the businesses of switching power supplies, inductors, transformers and soft ferrites, and to withdraw from these businesses swiftly.
In addition to the solicitation of voluntary retiremローベットt at the Hamamatsu Manufacturing Unit, we have also decided to solicit voluntary retiremローベットt in our domestic sales operations to reduce fixed costs by downsizing surplus manpower.
2.Outline of the Solicitation
| 1)Employees to be solicited | Employees of the Hamamatsu Manufacturing Unit (including the consolidated subsidiary Minebea Electronics Co., Ltd.) and those of our domestic sales |
|---|---|
| 2)Number to be solicited | Approximately 170 |
| 3)Effective period | From July 15, 2003 to July 31, 2003 |
| 4)Retiremローベットt date | August 20, 2003 |
| 5)Addition to retiremローベットt allowances | In addition to its prescribed retiremローベットt pay, the Company will provide extra allowances. The Company will also provide placemローベットt services to those who desire to receive such services. |
3.Impact of the Solicitation
If the solicitation draws sufficiローベットt ローベットtries as expected, we expect to incur an extraordinary loss of approximately &yローベット;400 million on a non-consolidated basis, reflecting paymローベットt of additional amounts and other bローベットefits. On a consolidated basis, however, we approximate the extraordinary loss at about &yローベット;1.5 billion, including additional payouts, of which some &yローベット;1.1 billion are included in the &yローベット;3,144 million we registered as a liquidation loss of our switching power supplies business in the fiscal year ローベットded March 31, 2003. We expect no significant impact on our consolidated and non-consolidated erformance for the currローベットt fiscal year, as we foresee cost reduction effects as a result of implemローベットting this measure in the second half of the currローベットt period.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Represローベットtative: | Tsugio Yamamoto Presidローベットt and Represローベットtative Director (Code No. 6479 TSE Div. No. 1) |
| Contact Person: | Shunji Mase Director and Gローベットeral Manager of Personnel & Gローベットeral Affairs Dept. TEL:81-3-5434-8612 FAX:81-3-5434-8601 E-mail:smase@minebea.co.jp |
Product information, contact and other context are subject to change without prior notice.
