2005
July 28, 2005
Minebea Co., Ltd.
Impairment of Fixed Assets
We hereby announce that at a meeting held today, our Board of Directors has resolved to report the following extraordinary losses from the impairment of fixed assets:
1. Reason for the impairment of fixed assets
The reason for the impairment of the fixed assets (land and building) in conformity with the Japanese Accounting Standards for Impairment of Fixed Assets is that we have no future effective utilization plans for these idle assets. The estimated losses (extraordinary losses) from this impairment are as follows:
| Estimated Impairment Loss (Millions of yen) | ||
|---|---|---|
| Asset | Non-consolidated | Consolidated |
| Land Building |
1,369 109 |
694 109 |
| Total | 1,478 | 803 |
Note: The difference between the non-consolidated and consolidated losses estimated above was offset as a consolidated unrealized profit in the past.
2. Outlook for the future
The estimated extraordinary losses from the above impairment are reflected in our non-consolidated and consolidated forecasts for the fiscal year ending March 31, 2006, announced on May 12, 2005. There will be no revision to the forecasts.
| 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 General Manager of Business Administration Headquarters (TEL.81-3-5434-8611) |
Product information, contact and other context are subject to change without prior notice.
