JAPAN: Kanebo To Scale Down Textile Business
According to a report in daily newspaper Yomiuri Shimbun, the company is considering consolidating its textile operations within two plants in Japan, down from the current seven.
In addition, it will reportedly withdraw its natural fibre-making operations from Brazil and China and integrate them into an existing plant in Indonesia.
However, the Kanebo spokesman declined to comment on details of the revival plan, due to be announced later this month.
"We haven't decided anything now," he said, despite admitting that a dramatic downsizing in textile operations was "inevitable".
Kanebo also produces pharmaceuticals and cosmetics.
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