INTEGRATED Micro-Electronics, Inc. (IMI) will close its Japan sales office and is currently downsizing its Singapore and Malaysia offices to boost margins, the company announced on Tuesday.
“In a move to better align support costs with current business needs, IMI will… be closing its sales office in Japan and will soon initiate the process of the dissolution of the entity,” the listed company said in a regulatory filing.
“IMI’s extensive sales team, strategically positioned across various regions, will continue to address opportunities in Japan, eliminating the need for a physical office and reducing overhead costs,” it added.
Aside from the Japan office, IMI said it is currently downsizing its Singapore and Malaysia offices.
“These activities are part of IMI’s ongoing commitment to streamline operations and drive improved margins across its global footprint,” it said.
Meanwhile, IMI United States will end prototyping and manufacturing operations by yearend. Its production functions will be transitioned to IMI facilities across North America, Europe, and Asia.
IMI US will also channel prototyping needs of selected customers to California-based XLR8 Corp. as part of a new agreement.
In turn, XLR8 will transition mass production projects to IMI as its preferred manufacturing partner.
IMI is a global electronics manufacturing solutions expert specializing in highly reliable and quality electronics for long product life cycle segments in the automotive, industrial, power electronics, communications, and medical industries.
On Tuesday, IMI stocks rose 1.10% or two centavos to P1.83 apiece. — Revin Mikhael D. Ochave
