Asahi Glass Sees Operating Profit Rising in 2001/02
Japan's Asahi Glass Co Ltd said recently it expects group operating profit to rise to 120 billion yen ($966 million) in the year that started on April 1 from a record 110 billion yen estimated for 2000/01. Shinya Ishizu, president, said sales in glass for cathode-ray tubes, widely used for wide-screen televisions and monitors and a leading product, would slow because of sluggish demand and rising competition. However, other display products such as liquid crystal displays (LCD) used in digital devices and many portable computers were expected to post healthy growth. For the year just ended, growth in electronics and display operations contributed significantly to its profit performance. The company unveiled a three-year management plan, saying it expects sales to rise to 1.4 trillion yen in 2001/02 from 1.33 trillion yen the year before, while return on equity was forecast to rise to 6.0% from an estimated 3.6%.