Nippon Sheet Glass Co. has posted a recurring profit of 243 million yen and after-tax profit of 129 million yen in the April-September fiscal first half, marking a sharp turnaround from a year before….
Nippon Sheet Glass Co. has posted a recurring profit of 243 million yen and after-tax profit of 129 million yen in the April-September fiscal first half, marking a sharp turnaround from a year before. The flat glass maker suffered a recurring loss of 729 million yen and an after-tax loss of 928 million yen in the first half of fiscal 1998. Sales in the latest six months rose 1.3% to 93 billion yen. Nippon Sheet Glass forecasts strong results in the full year to March 2000. It expects recurring profit to jump 2.5 times from the preceding year to 2 billion yen, and after-tax profit to soar fivefold to 2 billion yen. Annual sales are estimated at 190 billion yen, up 2.7%. Sales from mainstay glass operations are expected to stay flat, hurt by slack domestic automobile sales. But earnings will be lifted by growing demand for construction-use glass following the government“s housing loan tax cuts, as well as for information electronics such as optical products and liquid crystal displays, the company said.