Recently, the Japanese glass bottle manufacturer Yamamura Glass Co. reported low earnings for the year ended March 1997. This was due to strong price competition and a decreasing demand for glass bott…
Recently, the Japanese glass bottle manufacturer Yamamura Glass Co. reported low earnings for the year ended March 1997. This was due to strong price competition and a decreasing demand for glass bottles. The company recorded a 7.4% decrease in sales this year to Yen 63.17 billion from Yen 68.19 million last year. Net profit plunged 83.9% to Yen 190 million, from last year“s Yen 1.19 billion profit. The firm will cut annual dividend payments to Yen 6 per share from the previous year“s Yen 7. Sales of its mainstay glass bottles fell 5.7% due to decreasing demand for bottles for beverages and liquors, the company said, and the firm“s engineering business suffered a 35.2% fall in sales because of the yen“s fall against the dollar in the latter half of the year. For the current business year to March 1998, Yamamura Glass said it expects net sales of Yen 67 billion, and a recovery of net profit to Yen 1 billion. Annual dividend payments will be raised back to Yen 7 per share.