Advanex Advansys Transfers Singapore Plant to Boost Efficiency

TOKYO, Aug 07 (Pulse News Wire) – Advanex Inc. (5998.T) announced today that its overseas subsidiary, Advanex (Singapore) Pte.

Ltd., has decided to transfer its factory located in Singapore. The decision was made during a board meeting held on August 07, 2026. The plant's profitability had declined due to rising labor costs and fixed expenses in the surrounding area, coupled with customers relocating to other regions. As a result, production activities ceased since December 2024. After considering various options, a sale agreement was reached with SF Bedok North Pte Ltd.

Key details of the asset transfer include: - Asset Name: Singapore Factory - Transfer Price: $1.708 billion thousand USD - Book Value: $182 million thousand USD - Current Condition: Fixed Assets Advanex (Singapore) Pte. Ltd.'s main operations involve manufacturing and selling precision springs. It is headquartered at Bedok Reservoir Road, Singapore, with a capital of $3,391,746 USD. The transaction is scheduled to conclude on August 07, 2026, with the property handover also set for the same day. Regarding future outlook, the special gain from the asset transfer has already been incorporated into the preliminary earnings forecast for the fiscal year ending March 2027, which was published on May 15, 2026.