HARADA INDUSTRY CO.,LTD. [6904.T]
TOKYO, Mar 31 (Pulse News Wire) – Harada Industry CO.,LTD. (6904.T) reported personnel optimizations at its Chinese subsidiaries, DaLian Harada Industry CO.,LTD.
And Shanghai Harada Xin Auto Antenna Co., Ltd., resulting in estimated costs of ¥500 million. The company also decided to abandon ¥300 million worth of receivables from Shanghai Harada Xin Auto Antenna Co., Ltd. during a March 31 board meeting. As part of ongoing revenue structure reforms, Harada Industry optimized staffing at its subsidiaries.
By November 30, 2026, DaLian Harada Industry will complete the process involving 178 employees, while Shanghai Harada Xin Auto Antenna will finalize its optimization affecting nine staff members by June 30, 2026. Special severance payments totaling approximately ¥500 million will be recorded as restructuring expenses in the fiscal year ending March 31, 2026. Additionally, Harada Industry abandoned ¥300 million in accounts receivable from Shanghai Harada Xin Auto Antenna, aiming to strengthen the subsidiary's financial foundation. The write-off will result in a special loss of ¥300 million in the individual financial statements but will not impact consolidated financial results due to offsetting entries.
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