The following piece on Akebono Brake was posted on Nippon.com. The BRAKE Report has updated the story, revising the number/location of plant closures (two in U.S.; three in Europe; two in Japan). The company’s specific announcements of the restructuring plan which was approved can be found by clicking on this sentence.
Tokyo — Embattled Japanese auto parts maker Akebono Brake Industry Co. announced Wednesday [Sept. 18] that it will close six plants at home and abroad to rebuild its business.
The plant closures are part of the company‘s turnaround program that was accepted at a meeting of its creditors the same day. They also approved the firm’s request for 56-billion-yen debt forgiveness to reduce its interest-bearing liabilities.
Akebono Brake will shutter its plant in Soja, Okayama Prefecture in western Japan, two plants in the United States, and one each in France, Germany and Slovakia by the end of June 2024, when the restructuring plan is slated to conclude.
Production at Akebono Brake’s plant in Kori in the northeastern Japan prefecture of Fukushima will be scaled back.
The approximately 500 workers at the Okayama plant and part of the some 300 personnel at the Fukushima factory will be relocated to other bases of Akebono Brake.
[Copyright The Jiji Press, Ltd.]