Ohara joins Tokyo stock exchange

Japanese optical glass maker Ohara Inc opened on the first section of the Tokyo Stock Exchange on 21 October 2005 at JPY 4,700 (USD 40.7/EUR 33.8) per share, unchanged from its initial public offering…

Japanese optical glass maker Ohara Inc opened on the first section of the Tokyo Stock Exchange on 21 October 2005 at JPY 4,700 (USD 40.7/EUR 33.8) per share, unchanged from its initial public offering (IPO). Ohara offered 3.2 million shares. Sales of optical glass materials account for over 80% of Ohara“s total sales. Ohara expects a JPY 3.27 billion (USD 28.3 million/EUR 23.5 million) net profit for fiscal 2004/05, ending 31 October 2005, down 15% year-on-year. For fiscal 2004/05, the company expects to generate a JPY 5.51 billion (USD 47.7 million/EUR 39.6 million) recurring profit, which is a pre-tax profit excluding extraordinary items, down 15% year-on-year. Sales revenue is expected to fall 2.0% year-on-year to JPY 23.88 billion (USD 206.8 million/EUR 171.8 million) for fiscal 2004/05. Ohara expects to generate earnings per share (EPS) for the period of JPY 325.6 (USD 2.82/EUR 2.343).