|  | 20/12/2004 |
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Mitsubishi Cable Industries to spin off LED business into a separate company
Mitsubishi Cable Industries announced on Friday to spin off light-emitting diode (LED) business into a separate company from January 1st 2005. New 100% investing company take over LED business comprehensively. It is capitalized at 150 million yen, and employees are planned to be about 20 people.New company takes over and consolidates construction and operating of demonstration plant, and research & development, manufacturing and sales of LED to make a decision on full-fledged commercialization of LED product.
About accounting of LED business of Mitsubishi Cable Industries in fiscal 2003, sales amount was 261 million yen, gross profit on sales was 89 million yen, operating loss was 94 million yen and ordinary loss was 99 million yen.
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 | Mitsubishi Cable Industries to spin off LED business into a separate company
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