Asahi Glass Co., Ltd. has decided to liquidate its subsidiary Asahi Precision Circuit Co., Ltd., which develops and manufactures flexible and rigid circuit substrates. According to Asahi Glass, its su…
Asahi Glass Co., Ltd. has decided to liquidate its subsidiary Asahi Precision Circuit Co., Ltd., which develops and manufactures flexible and rigid circuit substrates. According to Asahi Glass, its subsidiary continues to face severe conditions in terms of the profitability of the business without any prospect of improvement. In response to this situation, APC halted production at the end of February 2008. Thereafter, it continued selling its inventory but ceased sales operations at the end of March 2008. The firm is located at Nishi-Shirakawa Gun, Fukushima Prefecture and had 53 employees as of 31 March 2008. The date of the liquidation resolution by shareholders is scheduled for 30 June 2008. The liquidation of APC will have only a negligible effect on the company“s non-consolidated and consolidated operating results.
