Japan NTN Bearing giant will lay off one percent in Japan

Japan NTN Bearing giant will lay off 10% in Japan, about 700-800 people. As the main business of auto parts business profitability is deteriorating rapidly, the company will utilize early retirement system. By reducing the production line, the company will be in 2014 fiscal year (ended March 2015) in two and a half years trying to reduce the cost of 50 billion yen. Recently the company will lay off the idea to the union organizations.
     Mainly targeted layoffs in Iwata, Shizuoka Prefecture factories and in Bizen, Okayama factory employees. Including the auto parts business, including production capacity outside the Group in Japan productivity from the current 6 percent to 5 percent.
    Europe accounts for about a quarter of the company's revenue, the economic downturn in Europe and the appreciation of the yen had a negative impact on our business. Company for the automotive parts taper roller bearing in the previous fiscal year loss of 3.2 billion yen, the company expects results for the current fiscal year will continue to deteriorate.
    NTN since early 2003 to improve the ratio of overseas operations.
Schaeffler has been traced on a global scale and distribution of counterfeit bearings, and may in some cases litigation. Not only under civil law to stop order or damage or destruction of counterfeit products turned over claims threat, but also under criminal law with fines and imprisonment if necessary, the threat of prosecution. Economic losses caused by counterfeit products is difficult to measure. In addition to the loss of revenue due to low-quality merchandise and caused damage to the company's image, bearing the investigation, confiscation and proper disposal will lead to high costs.