On 19 May, the Japanese glassmaker Sasaki Glass Co. said that its net profit in the business year ended 31 March came to Yen 217 million, up 7.3% from the previous year, thanks to the firm“s restruct…
On 19 May, the Japanese glassmaker Sasaki Glass Co. said that its net profit in the business year ended 31 March came to Yen 217 million, up 7.3% from the previous year, thanks to the firm“s restructuring efforts. Sales also increased for the first time in five years, totalling Yen 12.08 billion, up 5% from the previous year. The glass tableware maker will pay an annual dividend of Yen 3 per share; its first dividend payment in three years. It paid Yen 4 per share for the year that ended in March 1994. Sasaki Glass“s fixed costs have dropped since it solicited early retirement from employees in May 1995 as part of restructuring efforts, company officials said. The firm also tried to cut down inventories and reduce distribution costs. For the present year that ends in March 1998, Sasaki Glass estimates a net profit of Yen 320 million, thus a 47.5% increase, and a rise in sales of 7.7% to Yen 13 billion.