Asahi Glass now expects deeper last-FY group net loss Y13 billion

Date: 29 April 2002
Source: Yahoo

Date: 29 April 2002

Asahi Glass Co . said it expects to post a group net loss of Y13 billion for the year ended March 31 due to more special losses on the closure of a factory and the write-off of business rights for a U.

S. subsidiary.The comprehensive glass maker had previously projected a Y9 billion net loss for the just-ended fiscal year.On the other hand, Asahi Glass lifted its group operating profit outlook to Y59 billion from Y57 billion on better-than-expected results at its electronics and display division.It also revised up its group pretax profit outlook to Y44 billion from Y37 billion thanks to the weaker yen.

It kept its group sales forecast at Y1.260 trillion.

Last fiscal year, Asahi Glass posted a group net profit of Y24.72 billion on sales of Y1.313 trillion and an operating profit of Y111.65 billion.
600450 Asahi Glass now expects deeper last-FY group net loss Y13 billion glassonweb.com

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