2003
Aug.20, 2003
Minebea Co., Ltd.
Outcome of Soliciting Voluntary Retirement
We hereby inform you of the outcome of soliciting voluntary retirement announced on June 19, 2003 as follows:
1. Outline of the solicitation
| 1)Employees to be solicited | Regular employees of the Hamamatsu Manufacturing Unit(including a consolidated subsidiary, Minebea Electronics Co., Ltd.) and regular employees of the Domestic Sales Division |
|---|---|
| 2)Number to be solicited | About 170 persons |
| 3)Effective Period | From July 15 to July 31, 2003 |
| 4)Date of retirement | August 20, 2003 |
2. Outcome
| Number of accepted applicants | 163 persons |
|---|
3. Impact on business performance
We estimate extraordinary losses at about ¥500 million on a non-consolidated basis reflecting payments of extra allowances and other benefits as a result of the solicitation. Since about ¥400 million out of ¥500 million has already been appropriated, ¥100 million will be additionally appropriated.
On a consolidated basis, we estimate extraordinary losses at about ¥1,000 million reflecting payments of extra allowances and other benefits, and the full amount has already been included in an allowance for a liquidation loss of the fiscal year ended March 31, 2003.
We expect no major impact on our business performance for the current fiscal year, both on a consolidated basis and a non-consolidated basis.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Representative: | Tsugio Yamamoto Representative Director, President and Chief Executive Officer (Code No. 6479 TSE Div. No. 1) |
| Contact Person: | Shunji Mase Executive Officer and General Manager of Personnel & General 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.
