Deswell Industries (DSWL) Message Board

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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.400

-0.3%

Nov 6 3:58 PM EST

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To: Terrapin who wrote (1047)	10/13/1998 11:29:00 PM
From: Ron Bower	of 1418

John, Deswell has no major outstanding amounts due from Mita. Mita is being bought out by Kyocera (spelling may not be right, going from memory). The lower orders from Mita HongKong are to lower inventory before they are taken over. After the take over, sales to Mita will hopefully be back to normal and may increase due to the new management. As I understand it, Mita HK was a profitable division and the problems were in Japan because they did not lay off workers even though sales were declining. (it now appears there also was some book cooking) Also my understanding is that Mita HK operates independently from Japan, but all marketing goes thru Japan. The new management should continue the HK operation and may expand it. A 50% drop in Mita would be about the same amount they've added from VTech. They are aggressively seeking new business, InterTel and Behringer business should be growing. Look for fairly flat growth this Q and an improving situation over the next few months. They probably won't match last year's great 3rd Q, but should beat the 4th. FWIW, Ron

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