Nippon Sheet Glass Figures For Fiscal 1997

Nippon Sheet Glass Co reported that its consolidated recurring profit in the business year to last March rose 10.8% from the previous year to Y4.4bn. The Osaka-based flat glass maker said group sales in fiscal 1997 rose 2.6% to Y270bn. The glass and building materials division suffered a 2.7% decline on the back of sliggish housing and automobile demand. But sales of other products, such as materials for telecommunications and electronic equipment, showed robust growth of 14.6%. After-tax profit was up a hefty 143.2% to Y1.2bn. For the current business year to March 1999, Nippon projects recurring profit will fall 9.3% to Y4bn on sales of Y270bn, unchanged from the previous year.