Hoya've Decided to Liquidate 3 Pentax Subsidiaries within a Month!

RiceHigh · 09-02-2008, 07:14 AM

Originally posted by pschlute

Ok ...so still less than 1% of the assets !!

Wow, Pentax is really a very large company than I could imagine!

But then total asset include also Liabilities, anyone who read the reports further more deeply can tell?

thosan · 09-02-2008, 07:19 AM

Well this is more or less what take overs and merges is all about. Get rid of things that can be done on other locations, not needed, makes to little money.
They usually also cut down quite alot on staff, since it will require less after a merge.

straightshooter · 09-02-2008, 07:26 AM

Yawn.

So what's new guys and gals? Anything other than the sky is falling?

I normally just ignore anything from RH but this doom and gloom crap is getting

BORING!

CW

pschlute · 09-02-2008, 07:26 AM

Originally posted by RiceHigh

Wow, Pentax is really a very large company than I could imagine!

But then total asset include also Liabilities, anyone who read the reports further more deeply can tell?

No, total assets do not include liabilities, you will find them under the column entitled "Liabilities"

RiceHigh · 09-02-2008, 07:31 AM

Originally posted by pschlute

No, total assets do not include liabilities, you will find them under the column entitled "Liabilities"

Isn't that Total Assets = Net Assets + Liabilities? (Any accountants here? :-))

pschlute · 09-02-2008, 07:48 AM

Originally posted by RiceHigh

Isn't that Total Assets = Net Assets + Liabilities? (Any accountants here? :-))

Net assets = Total Assets - Total Liabilities. This is broadly equivalent to the Net Worth of the company. In the case of pentax about 76 Bn yen or $690 Million (using 110 exchange rate) on aquisition date.

Slick · 09-02-2008, 07:50 AM

Originally posted by RiceHigh

But then total asset include also Liabilities, anyone who read the reports further more deeply can tell?

Total Assets minus total liabilities gives you a corporation's net worth or shareholder's equity.

Net Worth

Nice try, though

Slick

Jaleel · 09-02-2008, 08:06 AM

Reason for dissolution and liquidation

PENTAX BASO (GUANGZHOU) Optomechatronics Co., Ltd. had manufactured lens
unit of digital cameras. However, as part of re-organization aiming to improve the
operational efficiency including production and quick delivery as well as quick response
in customer relations, this company will be dissolved and liquidated in order to combine
the production facility to other sites.

PENTAX (Shanghai) Corporation was established as the production plant of digital
cameras in China.
However, This company was underperforming unit, and so in order to improve the
efficiency of whole digital camera business, will be dissolved and liquidated.

I dont understand hy hoya must keep factories that dont give them money?

ftpaddict · 09-02-2008, 08:07 AM

RH, you're boring.

Slick · 09-02-2008, 08:21 AM

And, to save you the trouble, if you use net worth instead of total assets the percentage changes to .31%.

Total Assets = 689,444 ($6,335,738,255)
Total Liabilities = 136,192 ($1,251,713,445)

Net Worth = 553,252 ($5,084,024,810)

So,

Plant closings = $15,953,402/5,084,024,810 = 0.0031 * 100 = .31%

Still small.

Slick

raz-0 · 09-02-2008, 08:27 AM

Hey, I think we are all missing the silver lining here. RH didn't link to an article on his blog, but actually to the pertinent, if meaningless, info.

I'm not sure why we care about hoya getting involved with a brazillian maker of glasses though.

Magnus W · 09-02-2008, 08:38 AM

Originally posted by pschlute

Why will you miss them ? How do you know they going to close the office ?

The note from Hoya simply says the company is being disolved, and the office will become a branch of Pentax Europe.

According to a statement from the head of operations in the P.Sc. office, the personell is being made redundant and nordic operations will be managed from Germany via the Swedish branch of Focus Trading. He also claims that none of the old staff is moving to Focus Trading.
So, yes, I'm fairly sure that the Uppsala located office is being closed.
And I will miss the availability, the service-mindedness, and the Pentax-savvy-ness of the experienced local guys.

-- MW

thibs · 09-02-2008, 10:09 AM

Originally posted by RiceHigh

According to my old Pentax friend Roland Mabo [...]

LOL, I'd like to know Roland opinion on this quote

MRRiley · 09-02-2008, 11:02 AM

Yet another tempest in a teapot... or in this case a rice bowl...

Ricey old boy you would consider the decision by a single mom-and-pop camera store in Timbuktu, to be proof positive that Pentax had died and been buried. And then you'd go hunting the grave so you could dance on it.

I know it's no use telling you to give it a rest, but I really do wish you would.

Oldschool · 09-02-2008, 11:21 AM

Originally posted by MRRiley

I know it's no use telling you to give it a rest, but I really do wish you would.

What he said!

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09-02-2008, 07:14 AM	#16
RiceHigh Veteran Member Join Date: Nov 2006 Location: Hong Kong Posts: 1,934 Original Poster	Originally posted by pschlute Ok ...so still less than 1% of the assets !! Wow, Pentax is really a very large company than I could imagine! But then total asset include also Liabilities, anyone who read the reports further more deeply can tell?

09-02-2008, 07:19 AM	#17
thosan Junior Member Join Date: Oct 2007 Location: Vedum, Sweden Photos: Gallery Posts: 36	Well this is more or less what take overs and merges is all about. Get rid of things that can be done on other locations, not needed, makes to little money. They usually also cut down quite alot on staff, since it will require less after a merge.

09-02-2008, 07:26 AM	#18
straightshooter Inactive Account Join Date: May 2008 Location: Forest Park, Georgia/Jacksonville, Florida Photos: Gallery Posts: 633	Yawn. So what's new guys and gals? Anything other than the sky is falling? I normally just ignore anything from RH but this doom and gloom crap is getting BORING! CW

09-02-2008, 07:26 AM	#19
pschlute Moderator Loyal Site Supporter Join Date: Mar 2007 Location: Surrey, UK Photos: Gallery Posts: 8,192	Originally posted by RiceHigh Wow, Pentax is really a very large company than I could imagine! But then total asset include also Liabilities, anyone who read the reports further more deeply can tell? No, total assets do not include liabilities, you will find them under the column entitled "Liabilities"

09-02-2008, 07:31 AM	#20
RiceHigh Veteran Member Join Date: Nov 2006 Location: Hong Kong Posts: 1,934 Original Poster	Originally posted by pschlute No, total assets do not include liabilities, you will find them under the column entitled "Liabilities" Isn't that Total Assets = Net Assets + Liabilities? (Any accountants here? :-))

09-02-2008, 07:48 AM	#21
pschlute Moderator Loyal Site Supporter Join Date: Mar 2007 Location: Surrey, UK Photos: Gallery Posts: 8,192	Originally posted by RiceHigh Isn't that Total Assets = Net Assets + Liabilities? (Any accountants here? :-)) Net assets = Total Assets - Total Liabilities. This is broadly equivalent to the Net Worth of the company. In the case of pentax about 76 Bn yen or $690 Million (using 110 exchange rate) on aquisition date.

09-02-2008, 07:50 AM	#22
Slick Senior Member Join Date: Jan 2007 Location: Orlando, FL Posts: 154	Originally posted by RiceHigh But then total asset include also Liabilities, anyone who read the reports further more deeply can tell? Total Assets minus total liabilities gives you a corporation's net worth or shareholder's equity. Net Worth Nice try, though Slick

09-02-2008, 08:06 AM	#23
Jaleel Forum Member Join Date: May 2008 Location: Moscow, Russia Photos: Gallery Posts: 73	Reason for dissolution and liquidation PENTAX BASO (GUANGZHOU) Optomechatronics Co., Ltd. had manufactured lens unit of digital cameras. However, as part of re-organization aiming to improve the operational efficiency including production and quick delivery as well as quick response in customer relations, this company will be dissolved and liquidated in order to combine the production facility to other sites. PENTAX (Shanghai) Corporation was established as the production plant of digital cameras in China. However, This company was underperforming unit, and so in order to improve the efficiency of whole digital camera business, will be dissolved and liquidated. I dont understand hy hoya must keep factories that dont give them money?

09-02-2008, 08:07 AM	#24
ftpaddict Veteran Member Join Date: Jan 2008 Location: Yurp Photos: Gallery Posts: 4,666	RH, you're boring.

09-02-2008, 08:21 AM	#25
Slick Senior Member Join Date: Jan 2007 Location: Orlando, FL Posts: 154	And, to save you the trouble, if you use net worth instead of total assets the percentage changes to .31%. Total Assets = 689,444 ($6,335,738,255) Total Liabilities = 136,192 ($1,251,713,445) Net Worth = 553,252 ($5,084,024,810) So, Plant closings = $15,953,402/5,084,024,810 = 0.0031 * 100 = .31% Still small. Slick

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09-02-2008, 08:27 AM	#26
raz-0 Veteran Member Join Date: May 2007 Location: Central NJ Posts: 470	Hey, I think we are all missing the silver lining here. RH didn't link to an article on his blog, but actually to the pertinent, if meaningless, info. I'm not sure why we care about hoya getting involved with a brazillian maker of glasses though.

09-02-2008, 08:38 AM	#27
Magnus W Junior Member Join Date: May 2007 Location: Uppsala, Sweden Photos: Gallery Posts: 46	Originally posted by pschlute Why will you miss them ? How do you know they going to close the office ? The note from Hoya simply says the company is being disolved, and the office will become a branch of Pentax Europe. According to a statement from the head of operations in the P.Sc. office, the personell is being made redundant and nordic operations will be managed from Germany via the Swedish branch of Focus Trading. He also claims that none of the old staff is moving to Focus Trading. So, yes, I'm fairly sure that the Uppsala located office is being closed. And I will miss the availability, the service-mindedness, and the Pentax-savvy-ness of the experienced local guys. -- MW

09-02-2008, 10:09 AM	#28
thibs Pentaxian Join Date: Jun 2007 Location: Belgium Photos: Albums Posts: 7,001	Originally posted by RiceHigh According to my old Pentax friend Roland Mabo [...] LOL, I'd like to know Roland opinion on this quote

09-02-2008, 11:02 AM	#29
MRRiley Veteran Member Join Date: Feb 2007 Location: Sterling, VA, USA Photos: Gallery \| Albums Posts: 6,275	Yet another tempest in a teapot... or in this case a rice bowl... Ricey old boy you would consider the decision by a single mom-and-pop camera store in Timbuktu, to be proof positive that Pentax had died and been buried. And then you'd go hunting the grave so you could dance on it. I know it's no use telling you to give it a rest, but I really do wish you would.

09-02-2008, 11:21 AM	#30
Oldschool Pentaxian Join Date: Jun 2007 Location: Central NJ Posts: 1,278	Originally posted by MRRiley I know it's no use telling you to give it a rest, but I really do wish you would. What he said!