Hagiwara Syscom familiar with memory card etc. applies for civil rehabilitation law application

Hagiwara Syscom, familiar with flash memory products such as SD memory cards and compact flash, applied for the application of the civil rehabilitation law.

Details are as below.
Hagiwara Syscom Co., Ltd. | TEIKOKU NEWS ONLINE

According to Teikoku Databank, Hagiwara Syscom has applied for application of the civil rehabilitation law to the Nagoya District Court today on March 31. Debt is about 10 billion yen.

Hagiwara Syscom was founded in June 1953 and was originally a manufacturer that mainly focused on nonferrous smelting, such as lead, zinc and lead alloys as a smelter, but in the 1990's planned and developed in-house, all manufacturing was outsourced Convert to a dependent fabless business.

The company's flash memory products are less malfunctioning, have expanded their business, including about 1,000 business partners including major manufacturers and home electronics mass merchandisers, and sales to high-margin manufacturers increased 2006 In the fiscal year ended May, the annual turnover was about 30.566 billion yen.

However, recently, due to the declining sales unit price due to intensified competition, the profitability has deteriorated and the sales to mass merchandisers with a low profit margin has been reduced, so the annual sales for fiscal year 2010 is about 24,669 million Decrease to yen.

Furthermore, as the sales ratio to the manufacturer increased, the collection period prolonged and the cash flow situation deteriorated, so management that was not affordable continued, such as requesting suppliers to extend payment, but the cash flow limit was limited , It is said that it came to apply for application of this civil rehabilitation law.

The official page of Hagiwara Syscom is below.

Hagiwara Syscom | Flash memory application equipment maker | Hagiwara sys-com