Mitsubishi Materials plans extensive restructuring

摘要

Japan's Mitsubishi Materials will undertake "unprecedented restructuring" to cope with a loss forecast to reach ￥20bn by the fiscal year end on March 31 2002.The company is blaming the collapse in the information technology sector into which it sells silicon and advanced materials used in semiconductor production. Unprofitable operations will be closed or sold off, and it will transfer all its silicon water operations on January 1 to Sumitomo Mitsubishi Silicon Corp, a 50:50 joint venture with Sumitomo Metal Industries.