Nippon Sheet Glass Announces Revision Of Operating Result Forecast And Recognition Of Extra-Ordinary Gain

In connection to the sale of the flat glass business in Australasia announced on 29th June 2007, Nippon Sheet Glass Co., Ltd. (“the Company”) announces the revisions made to its forecast of operating results published on 31st May 2007 and the recognition of extra-ordinary gain for the full fiscal year 2008 ( April 2007 through March 2008 ) as below.

I. Estimation of the extra-ordinary gain from the sale of business :

JPY 25-35 Billion.

The Company has sold the business by way of selling all the issued shares of the holding company, named Pilkington Australia Finance Pty Ltd. Since the Company is still working on to finalize the value of the assets and liabilities of the business and also the resulting income tax should be calculated based upon the said value, the Company have to show the gain from the sale in an above range at this present.

The final amount of the gain will be announced as soon as it is fixed.

Read the entire story on the source link below.

600450 Nippon Sheet Glass Announces Revision Of Operating Result Forecast And Recognition Of Extra-Ordinary Gain glassonweb.com
Date: 9 July 2007
Source: Nsggroup.net

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