Asahi Glass Co. said 16 February 2004 that it expects to post group net profit of JPY 58 billion for the current business year to December 2004.
The Japanese glass major estimates JPY 100 billion in …
Asahi Glass Co. said 16 February 2004 that it expects to post group net profit of JPY 58 billion for the current business year to December 2004. The Japanese glass major estimates JPY 100 billion in operating profit, as strong demand for flat-panel displays and for electronic components such as LCD panels in cellular phones is expected to more than offset the negative impact of the JPY“s appreciation, the company said. The company estimates sales at JPY 1.42 trillion . No year-on-year comparison is available, since in 2003 the company changed its accounting year end from March to December. In the irregular nine-month term that ended in December 2003, the company registerd a group net profit of JPY 53,641 million. Asahi Glass also reported an operating profit of JPY 83,187 million on sales of JPY 1,242,956 million for the April-December period. In the previous full business year that ended in March 2003, the company posted a net loss of JPY 3,918 million In the current year, Asahi Glass plans a JPY 150 billion spend on equipment and facilities, mainly for flat-panel display production, and JPY 33 billion in research and development, it said.