2013
Notification of the Results of Implementing the “Early Retirement System”April 15, 2013
The results of the “early retirement system” that NTN announced on February 21, 2013 (date of Japanese press release) are as outlined below.
1. Details of “early retirement system”
| Target companies | NTN, NTN KONGO CORP., NTN ENGINEERING PLASTICS CORP., NTN MIKUMO COMPANY LTD. |
|---|---|
| Desired No. of applicants | approximately 600 |
| Application period | March 14 to March 22, 2013 |
| Date of retirement | May 15, 2013 |
2. Result of applications of “early retirement system”
No. of applicants: 406
Additional applications are also being considered in the future.
3. Impact on business results
Costs incurred for application for this system were approximately 5.8 billion yen and has been planned as an extraordinary loss for FY2012 ending March 31, 2013, however a cost of approximately 8 billion yen has already been aggregated as a consolidated business forecast as announced on November 5, 2012.
The impact on business results for this consolidated financial year is currently being examined, and a notification will be released if further adjustments are deemed required.