12 February 1998: Two leading Japanese container glass operations, Yamamura Glass Co. Ltd. and Nippon Glass Co. Ltd. announced late last month that they would merge on 1 October this year. The two com…
12 February 1998: Two leading Japanese container glass operations, Yamamura Glass Co. Ltd. and Nippon Glass Co. Ltd. announced late last month that they would merge on 1 October this year. The two companies said in a statement that four shares in Nippon Glass would be exchanged for one Yamamura Glass share. “We have concluded that in order to survive competition in the glass bottle-making industry and with firms that make bottles from other materials, it is desirable that we merge,” the statement said. According to the statement, the newly merged company is expected to achieve parent sales of 76 billion yen and a parent current profit of 1.1 billion yen in the year to March 1999, while parent sales in the year to March 2000 were expected to reach 87 billion yen, while parent current profits were seen at 2 billion yen.