Nippon Electric Glass Co Ltd (5214.T)
Latest Key Developments (Source: Significant Developments)
Nippon Electric Glass signs agreement with PPG Industries regarding acquisition of glass fiber business
May 26 (Reuters) - Nippon Electric Glass Co Ltd <5214.T>:* Says it signed a agreement with PPG Industries, Inc.
Dongxu Optoelectronic Technology Co Ltd <000413.SZ>: Says the co, its Fuzhou-based unit and Japan-based firm Nippon Electric Glass <5214.T> to set up a optoelectronic Technology jv in Fuzhou .Says the jv to be capitalized at 240 million yuan and the co to hold 10 percent, the unit to hold 50 percent and Nippon Electric Glass to hold 40 percent stake in the jv respectively. Full Article
Nippon Electric Glass Co Ltd <5214.T>:Says the company entered into agreement with PPG Industries Inc
Nippon Electric Glass Co Ltd:Says the company lowered the consolidated mid-year outlook for revenue to 120,000 million yen from 125,000 million yen for FY ending Dec. 2016.Sees a decrease of operating profit forecast to 9,000 million yen from 10,000 million yen.Sees a decrease of ordinary profit forecast to 5,000 million yen from 9,000 million yen.Sees a decrease of net profit forecast to 3,000 million yen from 7,000 million yen.Sees a decrease of earnings per share to 6.03 yen from 14.07 yen.Says the company lowered the consolidated full-year outlook for revenue to 248,000 million yen from 256,000 million yen for FY ending Dec. 2016.Sees a decrease of operating profit forecast to 19,000 million yen from 22,000 million yen.Sees a decrease of ordinary profit forecast to 14,000 million yen from 20,000 million yen.Sees a decrease of net profit forecast to 10,000 million yen from 16,000 million yen.Sees a decrease of earnings per share to 20.11 yen from 32.17 yen.Comments the decreased income is the main reason for the forecast. Full Article
* PPG Industries says deal to sell assets of its North American fiberglass operations to Nippon Electric Glass is expected to close in H2 2017 - SEC filing Source text for Eikon: (http://bit.ly/2tNULbl) Further company coverage: