Key Developments: Totoku Electric Co Ltd (5807.T)
117JPY
17 May 2013
¥3 (+2.63%)
¥123
¥113
¥118
¥113
567,000
1,185,328
¥128
¥63
Latest Key Developments (Source: Significant Developments)
Totoku Electric Co Ltd Announces Extraordinary Loss for Q1 of FY 2014
Totoku Electric Co Ltd announced that it will record a JPY 108 million extraordinary loss on the selling of investment securities, for the first quarter of the fiscal year ending March 2014. Full Article
Totoku Electric Co Ltd to Sell Information Equipment Business and Subsidiary to JVC KENWOOD Corporation
Totoku Electric Co Ltd announced that it has decided to sell information equipment business and all 6,000 shares (100% stake) of the subsidiary which is engaged in this business to JVC KENWOOD Corporation, effective July 1, 2013. Full Article
Totoku Electric Co Ltd Announced the Outcome Of Early Retirement Program, Announces Extraordinary Loss for FY 2013
Totoku Electric Co Ltd announced the outcome of an early retirement program, which was offered during the period from January 2013 to February 2013. 58 of its employees took the offer and will retire on March 20, 2013.The employees will be offered retirement pay, additional benefits and outplacement support. As a result, the Company will record a JPY 263 million extraordinary loss on the retirement payment, for the fiscal year ending March 2013. Full Article
Totoku Electric Co Ltd to Dissolve Overseas Subsidiary; Expects Extraordinary Profit for FY 2014
Totoku Electric Co Ltd announced that it has decided to dissolve a wholly owned overseas subsidiary, TOTO KU (THAILAND)CO.,LTD. The liquidation is expected to be completed by May 31, 2013. The Company expects JPY 30 million extraordinary profit on reversal of allowance for impairment for the fiscal year ending March 2014. Full Article
Totoku Electric Co Ltd to Sell Business and Subsidiary to JVC KENWOOD Corporation; Announces Early-retirement Program
Totoku Electric Co Ltd announced that it has decided to sell information equipment business and all 6,000 shares (100% stake) of the subsidiary which is engaged in this business to JVC KENWOOD Corporation. The Company has decided to offer an early-retirement program, during the period from January to February 2013. The Company expects approximately 40 employees to take up the offer. The Company will provide retirement payment, special allowance and reemployment support. Full Article
Totoku Electric Co Ltd to Transfer Business to Belton Totoku Technology
Totoku Electric Co Ltd announced that it has decided to transfer its coil processed product business to Belton Totoku Technology (BTT), which is a newly established limited liability company. According to a Contribution Agreement with Belton Storage Solution Limited (Belton), Belton's wholly owned subsidiary, BELTONTOTOKU Technology Limited (BVI) and BVI's wholly owned subsidiary, BELTONTOTOKU Technology HK Limited (HK Co), Totoku Electric will transfer BTT and its subsidiary Totoku Philippines, Inc's stakes to HK Co. Totoku Electric will acquire new shares issued by BVI. After the transactions, Totoku Electric will hold a 39% stake in BVI and form business alliance with Belton. Full Article
Totoku Electric Co., Ltd. Completes Share Issuance; Announced Changes in Shareholding Structure
Totoku Electric Co., Ltd. announced that it has completed to issue 23,809,524 new shares of its common stock at the price of JPY 84 per share, or JPY 2,000,000,016 in total, through private placement, to Furukawa Electric Co., Ltd., which is engaged in the manufacturing and sale of electric line and nonferrous metals products in Tokyo, Japan, on March 28, 2012. As a result, Furukawa Electric will become the parent company of Totoku Electric, holding 56.75% voting rights (38,472 voting rights) in Totoku Electric, up from 33.33% (14,662 voting rights). Full Article
Totoku Electric Co., Ltd. Announces Extraordinary Profit and Extraordinary Losses for FY 2012; Amends Consolidated Full-year Outlook for FY 2012
Totoku Electric Co., Ltd. announced that it will record a JPY 405 million extraordinary profit on the insurance payment, for the fiscal year ending March 2012. The Company will also record a JPY 850 million extraordinary loss on the impairment of fixed assets, a JPY 1,046 million extraordinary loss on the disposal of polychlorinated biphenyl pollutants, as well as a JPY 775 million extraordinary loss on the impact of the flood in Thailand, for the fiscal year ending March 2012. In addition, the Company has also changed its consolidated full-year outlook for revenue from an undetermined value to JPY 26,500 million, operating profit from an undetermined value to JPY 50 million, ordinary profit from an undetermined value to a loss of JPY 400 million, net profit from an undetermined value to a loss of JPY 3,600 million and earning per share from an undetermined value to a loss of JPY 81.45, for the fiscal year ending March 2012. Full Article
Totoku Electric Co., Ltd. to Issue New Shares; Announces Changes in Shareholding Structure
Totoku Electric Co., Ltd. announced that it will issue 23,809,524 new shares of its common stock at the price of JPY 84 per share, or JPY 2,000,000,016 in total, through private placement, to The Furukawa Electric Co., Ltd., which is engaged in the manufacturing and sale of electric line and nonferrous metals products in Tokyo, Japan, effective March 28, 2012. As a result, The Furukawa Electric will become the parent company of the Company, with 56.74% voting rights (38,472 voting rights) in the Company, up from 33.33% (14,662 voting rights). Full Article
Totoku Electric Co., Ltd. Amends Consolidated Full-year Forecast for FY 2012
Totoku Electric Co., Ltd. announced that it has amended the consolidated full-year forecast for revenue from JPY 26,000 million to an undetermined value, operating profit from JPY 100 million to an undetermined value, ordinary profit (loss) from JPY (200 million) to an undetermined value, net profit (loss) from JPY (1,150 million) to an undetermined value and earning (loss) per share from JPY (26.05) to an undetermined value for the fiscal year ending March 31, 2012. The Company turned the consolidated full-year outlook undetermined due to unclear impact from the floods in Thailand. Full Article
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