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F-Tech Inc to Offer Early-retirement Program and Expects Extraordinary Loss for Q3 of FY 2013; Amends Full-year Consolidated Outlook and Cancels Year-end Dividend Payment for FY 2013


Thursday, 7 Feb 2013 01:00am EST 

F-Tech Inc announced that it plans to offer an early-retirement program to its employees, during the period from March 18, 2013 to March 29, 2013, which will include severance pay, extra retirement payment and outplacement support. The Company expects approximately 150 employees to take up the offer, with June 30, 2013 as the retirement date. As a result, the Company will record an extraordinary loss of JPY 1,395 million caused by the retirement payment, for the third quarter of the fiscal year ending March 31, 2013. The Company also announced that it has raised its full-year consolidated outlook for revenue from JPY 141,000 million to JPY 143,000 million, operating profit from JPY 4,800 million to JPY 5,050 million, ordinary profit from JPY 4,500 million to JPY 5,000 million, and lowered its full-year consolidated outlook for net profit (loss) from JPY 1,400 million to JPY (2,750 million), and earnings (loss) per share from JPY 113.29 to JPY (222.54), for the fiscal year ending March 31, 2013. The Company lowered its full-year consolidated outlook for net profit mainly due to the extraordinary loss for business reorganization. The Company also has canceled its year-end dividend payment of JPY 10.00 per share, which was announced on November 2, 2012, for the same fiscal year. 

Company Quote

1344.0
-10.0 -0.74%
1:36am EDT