Japan“s Nippon Sheet Glass Co. Ltd. said it revised its group net profit forecast to 12 billion yen from an earlier projection of seven billion yen for the current business year ending March.
The gl…
Japan“s Nippon Sheet Glass Co. Ltd. said it revised its group net profit forecast to 12 billion yen from an earlier projection of seven billion yen for the current business year ending March. The glassmaker expects an increase of 15 billion yen in special profit from its US subsidiary NSG Holding USA Inc. from selling its shares in North American-based JDS Uniphase Corp, it said in a statement. The special profit in NSG will be partially used for its dividend to the parent company and partially for R&D and capital investment for itself. NSG has swapped its stake in its unit for some of the outstanding shares in JDS Uniphase last year. Nippon Sheet intends to keep a strong business tie with JDS Uniphase regardless of the share sales, it added.