Nippon Electric Glass lifts forecast

Nippon Electric Glass Co. said on 8 April that it expects to post a group recurring profit of JPY 12.5 billion in fiscal 2001, up from its earlier projection of JPY 8.5 billion.
A difference in Japa…

Nippon Electric Glass Co. said on 8 April that it expects to post a group recurring profit of JPY 12.5 billion in fiscal 2001, up from its earlier projection of JPY 8.5 billion. A difference in Japanese and US. accounting standards allowed Nippon Electric Glass to book smaller-than-expected costs at its U. subsidiary, leading to the upward revision for the fiscal year that ended 31 March company officials said. Nippon Electric Glass left its group sales estimate unchanged at JPY 301 billion, and its net profit forecast was kept at JPY 3.5 billion.