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JAPAN'S IKEGAI GOES UNDER WITH US$231.03 MLN IN LIABILITIES.
TOKYO, March 1 Asia Pulse - Celebrated machine tool maker Ikegai Corp. (TSE: 6102) announced Wednesday that it has filed for court protection from creditors under the Civil Rehabilitation Law, leaving liabilities totaling 27.1 billion yen (US$231.03).
The firm, founded in the early days of Japan's industrialization in 1889, focused on making machining centers but has endured sluggish earnings amid fierce competition in an industry which now boasts 90 firms.
Ikegai posted a parent-only operating loss of about 400 million yen for the half year ...
- JAPANESE MORNING NEWSPAPER HIGHLIGHTS - MARCH 1, 2001.
- News wire article from: AsiaPulse News March 1, 2001 700+ words
...Turbine Maintenance Market - NTT DoCoMo To Issue Y200 Bln In Bonds In March - Toyota, China Partner Set Up Two Parts Units - Ikegai Goes Under With Y27.1 Bln In Liabilities - NTT To Cut Spending, 6700 Jobs To Gear For Competition - M'bishi Aims To Make Splash...
- Ikegai To Cut Salaries, President's Wage Takes A Big Hit.
- Magazine article from: Metalworking Insiders' Report April 15, 2000 700+ words
...period: 10% for the rank-and-file, 13-15% for managers and directors, 18% for board members and 36% for president Shoji Inagawa. There is no chairman. These measures are intended to realize the profit margin even though sales would be virtually flat...
