Latest Tokyo Brief coverage on SAXA, Inc., tracking filings, financial news, and market signals from Japan.
TSE:6675
138 employees at SAXA and its service subsidiary accepted the electronics maker's early-retirement offer, overshooting a 120-person target, and the company has already booked a ¥1.269bn charge for the extra severance and outplacement costs, with the overflow bill still being worked out.
Saxa has finally put numbers on its restructuring year, guiding for ¥47.5 billion in sales, ¥1.0 billion in operating profit and ¥16.5 billion in net profit for the year ending March 2027 after leaving the outlook undecided in May. The flattering net-profit line is heavily helped by real-estate sale gains, while the operating bridge still shows pressure from materials, labour and restructuring costs. Management is pairing the reset with executive pay cuts, a new dividend policy from the following year based on the higher of 4% DOE or a 100% adjusted payout ratio, and a Yonezawa factory plan that includes an asset sale and new plant construction.