Asahi Glass cuts yr to March net profit forecast to loss of 6 bln yen

Asahi Glass Co Ltd said it cut its year to March forecast to a net loss of 6 bln yen, recevring the previous forecast of a profit of 28 bln, due to a special stock evaluation charge of about 40 bln yen.

The company blamed the recent fall of stock prices for the special charge.

The company gave the following forecast revisions, (compared with the previous estimates):

Pretax profit - 45 bln yen (unchanged)

Net loss - 6 bln yen (profit 28 bln)

Revenue - 1.3 trln yen (unchanged)

600450 Asahi Glass cuts yr to March net profit forecast to loss of 6 bln yen
Date: 26 March 2003
Source: Northernlight Library

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