Just Heard

[Johnston Collins]

Shinohara have went bust?

 

[jramseth]

Yikes, not good!

 

[Leo Caproni]

Shinohara bankruptcy

Shinohara bankruptcy

Unfortunately, I heard that Shinohara Machinery Co. Ltd. has filed for bankruptcy as of January 11, 2011 in Japan. According to Japanese newspapers, their debt is around 7,800,000,000 Japanese Yen which is approxiamtely US$93,000,000.00 and they will be reorganized by the government to take care of their creditors and continue operations. For more information to those of you who can read Japanese language or get the information translated, go to:
www.tsr-net.co.jp/news/flash/1208030_1588.html or
www.tokyo-keizai.co.jp/tosan/9.html

 

[spigot]

Printing and binding machinery manufacturing industry
1022 Aoi Ward, Shizuoka City Address 1022
198 Established in August 1944
260 260 Employees
Shinohara Mikio representative
1,000 Capital 10 million yen
(22/3)226,10 Annual sales (22 / 3) 2.2 billion, 261 million domestic and foreign
(22/3)785,700 Total liabilities (22 / at end of period 2) 7.8 billion 257 million domestic and foreign

111 January 11, filed for civil rehabilitation proceedings to the Tokyo District Court, yesterday received a preservation order. 2-6-4 6TEL 03-3564-0811)4 Kageyama Mitsutarou lawyer representative complainant (patent law firm Kageyama, Ginza 2-6-4, Chuo-ku, Tokyo Ginza 6F Takenaka, TEL 03-3564-0811) other four. 3-2-5 4TEL 03-3595-7070) Attorney supervisor in Takamatsu Kaori (Hayabusa Asuka Law Offices, Kasumigaseki Chiyoda Building 4F 3-2-5 Kasumigaseki, TEL 03-3595-7070) has been appointed.

Founded 1919, in the mid-sized printing machine manufacturer incorporated in August 1944, Tokyo, Osaka and other offices across the country to deploy and Nagoya, expanding its sales network to overseas March 31, 2008 sales of 57 billion 366 million were recorded inside and outside.

However, the sudden collapse of Lehman Brothers order environment, sales began to fall, sales ended March 31, 2010 6,100 22 billion yen drop in and out, 500 million and earnings to account for 1,784 million net loss for the worse . In addition, rapidly as well, such as its financial condition has annual sales of more than interest-bearing debt for the main plant was moved to its present location to invest 25 billion yen in total from the surrounding area was redeveloped area east Shizuoka station's former headquarters site worse, had occurred to the delay of the employee's salary.

Streamlining of the group, selling real estate, embarked on measures to improve management and post job cuts, Shoji Shinohara companies (Ltd) merged with, but was also working on job cuts, sale of real estate will proceed according to expectations of the Company rebuilding on their own that this was not the treatment was difficult to determine.
The January 15 (Sat) 2:00 pm, Convention Center, Shizuoka Prefecture, "Granship" The briefing was held in loans.

 

[aniston888]

A statement from Shinohara president Mikio Shinohara said: "We deeply apologise for the inconvenience and anxiety we have caused. Shinohara swears to do our utmost to achieve a corporate revival."
He added that the company would continue to operate as normal while it was working through the bankruptcy protection.
The UK does not have its own version of CRA, although it encompasses some of the elements of a Creditors Voluntary Arrangement.

 

[Leo Caproni]

Shinohara Co. Ltd. has closed it's doors

Shinohara Co. Ltd. has closed it's doors

I was informed that on July 8th, 2011, Shinohara Japan terminated all of it's employees and shut down all operations in Japan. I reconfirmed this information with several reputable business associates in Japan and it is true. The reason for this action was due to the fact that a Chinese automobile part manufacturer, Zhong Jing Group, that was negotiating to buy Shinohara backed out of the deal and the Shizuoka prefectural court that is presiding over the bankruptcy rejected any of Shinohara's other plans to reorganize and pay back their creditors. I spent six years working at Shinohara in Japan and am sorry to hear that many of my business associates/friends there are now out of work during this very difficult time for all Japanese people. Gambatte minasan

 

[Deleted member 16349]

I was informed that on July 8th, 2011, Shinohara Japan terminated all of it's employees and shut down all operations in Japan. I reconfirmed this information with several reputable business associates in Japan and it is true. The reason for this action was due to the fact that a Chinese automobile part manufacturer, Zhong Jing Group, that was negotiating to buy Shinohara backed out of the deal and the Shizuoka prefectural court that is presiding over the bankruptcy rejected any of Shinohara's other plans to reorganize and pay back their creditors. I spent six years working at Shinohara in Japan and am sorry to hear that many of my business associates/friends there are now out of work during this very difficult time for all Japanese people. Gambatte minasan

Hi Leo,

I am very sorry to hear about Shinohara closing.

In my long time effort to get press manufacturers interested in my new technology and in the opportunity for them to break out into new performance potential, I have found that the normal response from small and large press manufacturers is to just ignore the opportunity.

Shinohara is now among about ten press manufacturers that have gone bankrupt or gotten into serious financial trouble but were also unwilling to even evaluate a new concept that would have changed the direction of offset.

I am not saying that my technology would have saved these companies but in this quickly shrinking market for presses, any amount of differentiation would have helped.

For me it is very sad that small press manufacturers have gone under because they could have benefited the most with research that was almost complete. It would have been a very low cost and low risk effort for them. Companies go bankrupt for a reason and sometimes it is for not talking risks when they were required.

As a supplier of knowledge, it has made me feel very bad that when I have offered a potential lifeline that is ignored, I feel that decisions have been made that will just result in a slow death of a company and the livelihoods of many dedicated workers. I have seen this happen many times over many years.

I hope everyone at Shinohara will find new opportunities to use their skills to help themselves and Japan move forward.

Regards,

Erik