Nippon Sheet Glass cuts FY01 group net outlook to Y1 billion loss

The company now expects to post a group net loss of Y1 billion, compared with a profit of Y1 billion forecast in November.It left its sales estimate unchanged at Y295 billion.

One of the firm's subsidiaries was forced to temporarily halt production of glass panels for liquid crystal displays, reducing the parent company's profit.

Delayed construction work is expected to cause another subsidiary, Isolite Insulating Products Co . (J.IIP or 5358), to book losses for last fiscal year, Nippon Sheet Glass said.

At 0532 GMT , shares of Nippon Sheet Glass were up 0.8% at Y490 and Isolite was down 2.4% at Y161. The Nikkei 225 Stock Average was off 0.5%.