Integrated Micro-Electronics Inc. (IMI) expects to achieve $5 million in annual cost savings from closing its offices in Japan and Malaysia, ceasing manufacturing activities in the United States, and downsizing operations in Singapore. "These activities would yield to annualized cost savings of around $5 million improvement in the net income," IMI said in a disclosure to the Philippine Stock Exchange. Ayala-led IMI said that halting prototyping and manufacturing in the US would have minimal impact, as it accounts for only about 0.30 percent of the group's total revenues. It plans to end prototyping and manufacturing activities by year-end, shifting production to its facilities across North America, Europe, and Asia. "The office restructuring efforts in the four locations (US, Japan, Singapore and Malaysia) are part of the company's initiatives to align the cost structure with the current business needs and is not expected to disrupt the Company's operations," IMI said.