TOKYO, May 12 (Pulse News Wire) – SEMITEC Corporation (6626.T) announced today that it will record a loan loss provision of ¥709 million for its subsidiary, SEMITEC ELECTRONICS INDIA PRIVATE LIMITED (SEI). The provision comes after SEI's ongoing poor performance in India despite investments aimed at expanding operations there.
The company noted that the loan loss provision would be recognized within individual financial statements but would be offset and eliminated in the consolidated financial results. As such, there will be no impact on the consolidated operating profit, ordinary profit, or net profit figures for the fiscal year ending March 31, 2026.
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