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TOKYO, Aug 1 Asia Pulse - Sumida Corp. (TSE:6817) is likely to have posted a group net loss of about 200 million yen (US$1.6 million) for the fiscal half ended June 30, a sharp turnaround from the initial forecast of a 1.1 billion yen profit, the company said Tuesday.
Sumida's first half-year loss in 12 years reflects slowing sales growth in mainline coil products.
The company recorded a 900 million yen profit for the year-earlier half.
Consolidated sales apparently increased 4 per cent to 16.3 billion yen, well short of the earlier forecast ...
Source: HighBeam Research, JAPAN'S SUMIDA NOW SEES US$1.6 MLN INTERIM GROUP NET LOSS.