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JAPAN'S SUMIDA NOW SEES US$1.6 MLN INTERIM GROUP NET LOSS.

AsiaPulse News

| August 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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Source: HighBeam Research, JAPAN'S SUMIDA NOW SEES US$1.6 MLN INTERIM GROUP NET LOSS.

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