The latest announcement is out from Koito Manufacturing Co ( (JP:7276) ).
Koito Manufacturing Co., Ltd. has announced the dissolution and liquidation of its subsidiary, Fuzhou Koito Automotive Lamp Co., Ltd., due to declining sales and profits in the Chinese market, exacerbated by the rise of electric vehicles and changes in market dynamics post-COVID-19. This strategic move aims to optimize production capacity and streamline resources, with future operations in China to be conducted by Guangzhou Koito and Hubei Koito, focusing on increasing orders and improving business performance while minimizing the impact on employees and the local community.
More about Koito Manufacturing Co
Koito Manufacturing Co., Ltd. operates in the automotive industry, specializing in the production and marketing of automotive lighting equipment. The company has a significant focus on the Chinese market through its subsidiaries, aiming to cater to both Japanese and local Chinese automobile manufacturers.
YTD Price Performance: 1.03%
Technical Sentiment Signal: Strong Buy
Current Market Cap: $3.96B
See more data about 7276 stock on TipRanks’ Stock Analysis page.