Ishikawa Prefecture: Maker and Hakusan Plant

ishikawa prefecture: The struggling maker aims to lower fixed costs and has agreed to receive up to 80 billion 738 million in a bailout from a Chinese-Taiwanese consortium, according to The Japan Times. It incurred a group net loss for the fifth straight year in fiscal 2018 at 109.43 billion, on sales of 636.66 billion, down 11.3 percent from the previous year, hit by falling demand from its main client Apple. The latest reduction, up from 1,000 announced in May, represents over a quarter of the display maker's total workforce in Japan. ; CEO and President Yoshiyuki Tsukizaki will step down, effective Sept. 30, to be replaced by Managing Executive Officer and Chief Financial Officer Minoru Kikuoka. The maker also said operations at its Hakusan plant in Ishikawa Prefecture will be suspended from July to September, and that part of its manufacturing line at its Mobara plant in Chiba Prefecture will be closed in September. Between July 29 and Aug. 27, the company will invite employees to take early retirement by the end of September under a voluntary early retirement program. The company said it would decide by late September whether to reopen the Hakusan plant, which makes displays for smartphones. (news.financializer.com). As reported in the news.

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