Miyairi Valve MFG Co Ltd <6495.T>:Says th co appointed current vice president Kenji Nishida as president.
Miyairi Valve MFG Co Ltd <6495.T>: Says the company will form a business alliance with Parteca S.p.A. regarding sale promotion of gas machine and technology improvement .Says Parteca S.p.A. is a Spain-based holding company, managing its group company which is engaged in gas machine manufacturing and sales.
Miyairi Valve MFG Co Ltd:Says the company amended the consolidated full-year outlook for the FY ending March 2015.Confirmed the revenue at 5,077 million yen.Operating profit forecast decreased to 211 million yen from 460 million yen.Ordinary profit forecast decreased to 207 million yen from 447 million yen.Net profit forecast decreased to 203 million yen from 402 million yen.Earnings per share decreased to 4.27 yen from 8.41 yen.Comments that increased material costs and manufacturing expenses is the main reason for the forecast.
Miyairi Valve MFG Co Ltd announced that it has reaffirmed the consolidated full-year outlook for revenue from at JPY 4,660 million, operating profit at JPY 184 million, ordinary profit at JPY 167 million, but lowered the outlook for net profit from JPY 154 million to JPY 20 million and earnings per share from JPY 3.22 to JPY 0.42 for the fiscal year ending March 2014. The negative outlook for net profit is mainly due to record of extraordinary loss, due to waiver of debt.
Miyairi Valve MFG Co Ltd announced that it will record a JPY 95,810,000 extraordinary loss on the provision for bad debts, for the first quarter of the fiscal year ending March 2014.
Miyairi Valve Mfg. Co., Ltd. announced that it has decided to appoint Takashi Hirawaka as the Company's new President, to replace Kunio Sano, who will retire from his place, effective June 25, 2010.
Miyairi Valve Mfg. Co., Ltd. announced it has conducted internal investigation for selling new stock through private placement. The Company issued JPY 6 million new shares to a Japan-based company, through private placement on June 20, 2008. However, in fact when the Japan-based company underwrote the Company's new shares, it took funds from other investors, and transferred the new shares to other investors according to the percentage they invested in. The Company considers that it is because the Company didn't recognized the false matter in the report filed by the Japan-based company that caused this matter. The Company will take measures to prevent similar things from happening again.
Miyairi Valve Mfg. Co., Ltd. announced that it has received the winning suit result from Tokyo District Court, effective November 12, 2009. According the result, the Japan-based company was supposed to pay JPY 1,525,337,637 and JPY 1 billion debts, as well as interests caused by the debts. The Japan-based company will also be responsible for the payment of JPY 255 million debts till December 5, 2009, JPY 287 million debts till December 6, 2009, JPY 72 million debts till December 13, 2009, and JPY 933 million debts till March 3, 2010. However, if the Japan-based company was not able to pay for these debts on time, the Company will add 14% interest rate per year (365 days) for these debts. Meanwhile, the Japan-based company is also responsible for the expenses caused by the lawsuit.
Miyairi Valve Mfg. Co., Ltd. announced that the Tokyo District Court has delivered the verdict of the lawsuit that the Company filed against a Japan-based company on May 14, 2009. According to the verdict, the Company won the suit and the defendant will pay back the debts of JPY 480 million, cost of the lawsuit and other charges.
Miyairi Valve Mfg. Co., Ltd. announced that it has become the third major shareholder of BANNERS CO., LTD. with a 9.15% stake (19,902,300 shares), down from 14.22% (28,898,000 shares) on May 29, 2009.