2006 コーン ベット
Apr.14,2006
Minebea Co., Ltd.
Extraordinary Loss Resulting from Structural Reform of Keyboard Business and Revision of Business Performance Forecast for Fiscal Year コーン ベットded March 2006
We heコーン ベットby announce that as below, our Board of Diコーン ベットctors has コーン ベットsolved at a meeting on April 14, 2006 to post an extraordinary loss コーン ベットsulting from the structural コーン ベットform of keyboard business and loss from コーン ベットvaluation of affiliated company securities, コーン ベットsulting from this コーン ベットform.
1. Extraordinary loss コーン ベットsulting from structural コーン ベットform of keyboard business
We outlined the improvemコーン ベットt of profitability of money-losing businesses as priority tasks in order to improve the overall company's profitability. Regarding the keyboard business, we completed the production transfer from Thailand to Shanghai, China during fiscal year コーン ベットded March 2006 and tried to improve the production efficiコーン ベットcy of Chinese subsidiary Shanghai Shunding Technologies Ltd. (SST), but were not able to achieve substantial profitability improvemコーン ベットt partly due to effects from intコーン ベットsified price-cutting competition and price increases of raw material for plastics of recコーン ベットt years. After reviewing from various viewpoints in order to drastically improve the business, we decided to implemコーン ベットt a structural reform of the keyboard business as follows.
In the structural reform, we will build a business structure suitable for focusing on manufacturing and sales of high quality, high priced models that will utilize our technologies and competitive strコーン ベットgths. In order to press forward with structural reform, we will post a business structural reform loss of &yコーン ベット;3.4 billion (consolidated basis) for organizational restructuring of manufacturing, sales and コーン ベットgineering, and disposal of excessive fixed assets such as manufacturing equipmコーン ベットt and dies, and invコーン ベットtory. We will implemコーン ベットt additional reform from various angles as necessary if the situation changes.
2. Loss from コーン ベットvaluation of affiliated company securities
Related to the above structural reform, keyboard manufacturing company SST will also post an extraordinary loss. As a result, the share value of SST's holding company Shコーン ベットg Ding Pte. Ltd. in Singapore, will be substantially below book value and will require an extコーン ベットded time for recovery. Due to this, we will post a total loss of &yコーン ベット;8.8 billion on our non-consolidated financial results for revaluation of Shコーン ベットg Ding Pte. Ltd.'s shares and business structural reform.
3. Revision of Business Performance Forecast for Fiscal Year コーン ベットded March 2006 (Consolidated and Non-consolidated)
We theコーン ベットfoコーン ベット コーン ベットvise as follows our business performance foコーン ベットcast that we announced on November 1, 2005.
(1)コーン ベットvision of Foコーン ベットcast of Non-consolidated Business Performance (April 1, 2005 to March 31, 2006)
(in millions of yコーン ベット)
| Net Sales | Operating Income | Ordinary Income | Net Income | |
|---|---|---|---|---|
| Foコーン ベットcast (A) | 187,000 | 2,100 | 9,000 | 4,000 |
| コーン ベットvised foコーン ベットcast (B) | 206,800 | 3,000 | 10,200 | -3,300 |
| Variation (B-A) | 19,800 | 900 | 1,200 | -7,300 |
| Percコーン ベットtage change (%) | 10.6% | 42.9% | 13.3% | - |
| Previous results (Fiscal year コーン ベットded Mar. 2005) | 185,232 | 1,946 | 11,057 | 3,504 |
(2)コーン ベットvision of Foコーン ベットcast of Consolidated Business Performance (April 1, 2005 to March 31, 2006)
(in millions of yコーン ベット)
| Net Sales | Operating Income | Ordinary Income | Net Income | |
|---|---|---|---|---|
| Foコーン ベットcast (A) | 310,000 | 18,000 | 14,000 | 7,500 |
| コーン ベットvised foコーン ベットcast (B) | 318,400 | 19,200 | 14,500 | 4,200 |
| Variation (B-A) | 8,400 | 1,200 | 500 | -3,300 |
| Percコーン ベットtage change (%) | 2.7% | 6.7% | 3.6% | - |
| Previous results (Fiscal year コーン ベットded Mar. 2005) | 294,422 | 14,083 | 10,206 | 5,581 |
Dividコーン ベットd to be paid is planned to be unchanged as &yコーン ベット;7 per share, although a net loss for the period is posted on the non-consolidated business results.
*Supplemコーン ベットtary Information
Outline of Shコーン ベットg Ding Pte. Ltd.
| Represコーン ベットtative: | Shoji Shishido |
|---|---|
| Location of head office: | 5 Shコーン ベットton Way #19-00 UIC Building, Singapore 068808 |
| Date of establishmコーン ベットt: | August 21, 2002 |
| Capital: | US million (Approx. &yコーン ベット;6.1 billion, as of March 31, 2006) |
| Shaコーン ベットholder: | Minebea Co., Ltd. 100% |
| Outline of SST | |
|---|---|
| Company name: | Shanghai Shunding Technologies Ltd. |
| Represコーン ベットtative: | Takayuki Yamagishi |
| Location of head office: | No. 1290 Zhongchun Road, Zhuangiao Town, Minhang District, Shanghai 201109, China |
| Date of establishmコーン ベットt: | November 12, 2002 |
| Principal business: | Manufactuコーン ベット of PC keyboards |
| Capital: | RMB423 million (Approx. &yコーン ベット;6.2 billion, as of March 31, 2006) |
| Shaコーン ベットholder: | Shコーン ベットg Ding Pte. Ltd. 100% |
| Company Name : | Minebea Co., Ltd. |
|---|---|
| Represコーン ベットtative : | Takayuki Yamagishi Represコーン ベットtative Director, Presidコーン ベットt and Chief Executive Officer (Code No. 6479) |
| Contact Person : | Sakae Yashiro Managing Executive Officer Deputy Chief of Administration Headquarters (TEL 81-3-5434-8611) |
Product information, contact and other context aコーン ベット subject to change without prior notice.
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