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Nakayama Steel Works Ltd Announces Outcome of Early Retirement Program and Expects Extraordinary Losses for Q2 of FY 2013


Thursday, 18 Oct 2012 02:00am EDT 

Nakayama Steel Works Ltd announced the outcome of an early retirement program, which was offered during the period from September 18, 2012 to September 25, 2012. 113 of its employees took the offer and will retire on October 31, 2012. The employees will be offered retirement pay and additional benefits. As a result, the Company expects the extraordinary loss of approximately JPY 230 million caused by retirement payment and the extraordinary loss of approximately JPY 380 million caused by amortization cost, for the second quarter of the fiscal year ending March 2013. 

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2:00am EDT