Minebea Reports Extraordinary Loss

Resource from: CBCC Likes:2933

May 17,2007

The following is to inform you of the decision reached by our board of directors conducted on the 8th of May, 2007, regarding the reporting of an extraordinary loss in accounts settled for the Fiscal Year Ending March 31, 2007. In its non-consolidated financial statements for this fiscal year, Minebea reports a "Business restructuring loss" of 2,402 million yen for Allowance for Bad Debt to Sheng Ding Pte. Ltd., a PC keyboard subsidiary. The above extraordinary loss will be reported as an aggregated loss which was firstly reported as the "Report of Extraordinary Loss for the first half of the fiscal year" for timely disclosure on the 24th of October, 2006. As this loss is realized in our consolidated financial statements as a loss at the subsidiary, it will not affect our consolidated results. (Reference) The "business restructuring loss" for timely disclosure on the 24th of October, 2006, was 1,402 million yen. Company Name: Minebea Co., Ltd. Representative: Takayuki Yamagishi Representative Director, President and Chief Executive Officer (Code No. 6479 TSE Div. No. 1) Contact Person: Sakae Yashiro Managing Executive Officer Deputy Chief of Administration Headquarters (TEL: 81-3-5434-8611)

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Germany's Schaeffler not Giving Up Pursuit of China's Luoyang Bearing
Next Brammer Enters Poland to Start Buying Spree

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.