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JAPAN'S SAGAWA ANNOUNCES EARNINGS RESULTS FOR FIRST TIME.

AsiaPulse News

| July 01, 2003 | COPYRIGHT 2003 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, July 1 Asia Pulse - Sagawa Express Co., an unlisted company that boasts the second-largest market share in parcel delivery, announced its earnings results for the first time ever Monday.

By showing that the company has wiped out the bad debt associated with an early 1990's incident involving subsidiary Tokyo Sagawa Express Co., the company aims to shed its negative image. From now on, it intends to provide balance sheets as well as profit and loss statements annually.

Sagawa revealed that the bad debt associated with the Tokyo Sagawa incident totaled 596.6 billion yen (US$4.97 billion) and that it ...

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Source: HighBeam Research, JAPAN'S SAGAWA ANNOUNCES EARNINGS RESULTS FOR FIRST TIME.

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