YOKOGAWA ELECTRIC CORPORATION
Name of Listed Company: Yokogawa Electric Corporation
(URL: http://www.yokogawa.com) (Stock code: 6841, listed in TSE 1st section) Name and Position of the Representative:
Takashi Nishijima, President and Chief Operating Officer
Name and Position of the Person in Charge:
Sadamu Kawanaka, General Manager of Corporate Communication Department
Telephone Number: 81-422-52-5530
September 2, 2014
Yokogawa Electric Corporation (the "Company") is notifying you that its Board of Directors has resolved on this date to solicit applications from employees for the voluntary retirement program.
1. Reasons for solicitation of applications for the voluntary retirement program
Based on the mid-term business plan, "Evolution 2015," through the end of fiscal year 2015, the Company is promoting its growth strategy against the backdrop of expanding energy-related investment. At the same time, the Company is also undertaking business structural reforms, including the globalization of the corporate headquarters functions and the review of our overall production structure.
Meanwhile, the environment surrounding our control business is changing rapidly, including the dwindling domestic market and intensification of global competition, making further enhancement of global competitiveness the urgent task.
Under these circumstances, the Company finds it essential to drastically review the existing functions and business operations, realize the optimization of domestic human resources, and has therefore decided to solicit applications for the voluntary retirement program.
2. Outline of voluntary retirement program
Eligible employees (1) Regular employees
Regular employees of Yokogawa Electric Corporation, Yokogawa Solution Service Corporation and Yokogawa Manufacturing Corporation, aged between 30 and 59 as of March 31, 2015
(2) Senior employees
Senior employees of Yokogawa Electric Corporation, Yokogawa Solution Service Corporation and Yokogawa Manufacturing Corporation, aged between 60 and 64 as of March 31, 2015.
(Note) Senior employees are employees aged 60 or older
reemployed after reaching the mandatory retirement age. | |
Number of applicants | Approximately 600 (regular employees) |
Application period | From January to February 2015 (planned) |
Date of retirement | March 31, 2015 (planned) |
Support | A support benefit will be paid to retirees and re-employment support will be provided through re-employment agencies. |
*The above content will be decided following consultations with the labor union.
3. Future outlook
Expenses associated with the solicitation of applications for the voluntary retirement program will be recorded as extraordinary losses in the year ending March 31, 2015. With the number of applicants not yet determined at the moment, however, the potential impact on the financial results for the full business year will be announced promptly as soon as the estimate of the number of applicants becomes feasible.
(Reference) Consolidated business forecast for the year ending March 31, 2015 (announced on May 13,
2014) and consolidated business results for the year ended March 31, 2014
Net Sales | Operating Income | Ordinary Income | Net Income | Net Income per Share | |
Consolidated business forecast (Fiscal Year 2014) | million yen 400,000 | million yen 28,000 | million yen 26,000 | million yen 14,000 | yen 54.36 |
Consolidated business results (Fiscal Year 2013) | 388,463 | 25,893 | 25,679 | 12,341 | 47.92 |
|
distributed by
|
