Nippon Sheet Glass Shares Gain After Forecast Boost

Nippon Sheet Glass Co., the world's biggest supplier of car windows, had the second-biggest gain in Japan's Nikkei 225 Stock Average after increasing its profit forecast because the yen weakened against the pound.

The stock gained 23 yen, or 3.8 percent, to 635 yen in Tokyo. The number of shares traded was double the full-day average of the past year.

The yen's declines against the pound, euro and U.S. dollar are boosting the value of overseas earnings converted into Japanese currency. Nippon Sheet Glass acquired Pilkington Plc of the U.K. last year in its biggest takeover, making Europe the largest of the Japanese glassmaker's three business regions.

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600450 Nippon Sheet Glass Shares Gain After Forecast Boost
Date: 5 September 2007

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