Matsushita to Close MT Picture Display (M) Sdn. Bhd.OSAKA, Japan -- Matsushita Electric Industrial Co., Ltd. (MEI (NYSE NYSE See: New York Stock Exchange : MC)), best known for its Panasonic brand, today announced plans to discontinue dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: operations at MT Picture Display (M) Sdn. Bhd. - MTPDM in August 2006, and to begin closing/liquidation procedures. MTPDM is a subsidiary in Malaysia of Matsushita Toshiba Picture Display Co., Ltd. (MTPD MTPD Metric Tons Per Day MTPD Matsushita Toshiba Picture Display MTPD Maximum Tolerable Period of Disruption MTPD Move to Previous Data ), a joint venture of MEI and Toshiba Corporation (company) Toshiba Corporation - A Japanese technology manufacturer with 364 subsidiaries worldwide. Toshiba makes and sells electronics for home, office, industry and health care including information and communication systems, electronic components, heavy electrical apparatus, . MTPDM, which manufactures cathode ray tubes See CRT. (hardware) cathode ray tube - (CRT) An electrical device for displaying images by exciting phosphor dots with a scanned electron beam. CRTs are found in computer VDUs and monitors, televisions and oscilloscopes. (CRTs) for 21- to 32- inch TVs exporting for the Japanese and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. markets, has faced declines in demand for CRTs and intensified in·ten·si·fy v. in·ten·si·fied, in·ten·si·fy·ing, in·ten·si·fies v.tr. 1. To make intense or more intense: price competition, due to increasing sales of flat-panel TVs in their respective markets. This closing is a part of MTPD's restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). initiatives in order to establish an optimum CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. manufacturing structure in Asia and China. MEI has not revised its consolidated, or non-consolidated financial forecasts (announced on April 28, 2006) for the year ending March 31, 2007.
(Reference)
MTPDM Company Overview
1. Basic Information (as of June 30, 2006)
Company name MT Picture Display (M) Sdn. Bhd.
Representative Tetsuo Hasegawa, Managing
Director
Location of head office Shah Alam, Selangor Darul Ehsan,
Malaysia
Date of incorporation October 9, 1990
Principal business Manufacture and sales of CRTs
for TVs
Share capital RM 1,025,000,000
Number of employees 2,162
Total number of outstanding shares 1,025,000,000 shares
Shareholder's equity RM 1,025,000,000
Total assets RM 200,428,000
Financial closing date March 31
Shareholders (% ownership) Matsushita Toshiba Picture
Display Co., Ltd. 100%
Principal customers Group companies of MEI, Toshiba
and JVC, and others
Financial Institution Panasonic Financial Centre
(Malaysia) Sdn. Bhd.
2. Financial Results (for the most recent three fiscal years)
(thousands of RM, except per share amounts, which are in RM)
Fiscal year ended: March 2004 March 2005 March 2006
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Sales * 743,331 1,102,884 972,959
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Income (loss) before taxes * (38,640) (65,583) (114,266)
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Net income (loss) * (38,640) (158,365) (969,422)
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Net income (loss) per share (0.04) (0.15) (0.95)
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Cash dividends per share --- --- ---
----------------------------------------------------------------------
Shareholders' equity per share 0.002 (0.15) (1.10)
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(Note) * Amounts less than RM 1,000 have been omitted.
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