A report will be released by Central Glass, of Japan, stating an after-tax loss of JPY 2,062 million for the first half of the current year due to appraisal losses of JPY 4,866 million on an overseas …
A report will be released by Central Glass, of Japan, stating an after-tax loss of JPY 2,062 million for the first half of the current year due to appraisal losses of JPY 4,866 million on an overseas subsidiary. The company earlier forecast an after-tax profit of JPY 400 million. It suffered an after-tax loss of JPY 2.32 billion the previous year. The major sheet glassmaker expected a recurring profit of JPY 2,098 million for the six months to September 1995, nearly double the earlier estimate of JPY 1.1 billion, as a result of efforts to cut operating costs and improve its financial balance. The company earned a recurring profit of JPY 1,886 million in the corresponding term the previous year. Central Glass lowered its half-yearly sales estimate from JPY 73 billion to JPY 71,340 million, down from JPY 70,578 million a year before. Furthermore, the company“s latest forecast shows “95/“96 group net profit of sales to be JPY 188 billion versus JPY 192 billion of the previous forecast and JPY 188.6 billion actual of the previous year. Its current is still forecast at JPY 2.3 billion against the previous year“s JPY 3.72 billion. Net profit is expected at JPY 2.6 billion against an earlier forecast profit of JPY 200 million and an actual previous year loss of JPY 2.18 billion.