Konica Minolta, Inc. (Konica Minolta) has decided to close its Taihozanryo – an employee dormitory in Toyokawa City, Aichi Prefecture, Japan – and return the leased land to the owner.
Last week Konica Minolta announced that its Representative Executive Officer has decided to end production at its manufacturing subsidiary in China, Konica Minolta Business Technologies (WUXI) Co., Ltd. (Konica Minolta WUXI). Now, the company has given notice of the closure of its employee dormitory in Toyokawa City.
With the basic policy of challenging and achievable target and return to a highly profitable company, one of action agendas in Konica Minolta’s Medium-term Business Plan is reinforcement of financial foundation.
Since Minolta Camera Co., Ltd. opened Taihozanryo in 1983, the dormitory housed, for more than 40 years, employees in Toyokawa and neighbouring areas.
Konica Minolta decided to close the dormitory and return the leased land in view of the decline in asset efficiency due to increasing costs to keep the buildings, including maintenance costs associated with the aging of facilities.
