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Asahi Industries' Y737M Pretax Loss In FY2010 Results
Japan's electric steelmaker Asahi Industries Co incurred a pretax loss of Y737 million in its consolidated earnings results for fiscal 2010 (April 2010-March 2011) when the company proved unsuccessful in forming sales prices of steel products to meet high prices of ferrous scrap.

The company announced its consolidated results of Y40,535 million in sales for fiscal 2010, up 3.6% from a year ago; Y772 million in operating loss, compared with an operating profit of Y1,922 million in the year before; Y737 million in pretax loss, compared with a pretax profit of Y1,964 million then; and Y801 million in net loss, compared with a net profit of Y937 million then.

The building materials division, the mainstay of the company, won Y25,751 million in sales for fiscal 2010, up 10.1% from a year ago, but it suffered Y569 million in operating loss, compared with an operating profit of Y2,324 million in the year before.

For April-September 2011, the company estimates the prospects of its consolidated results at Y21.5 billion in sales, up 8.2% from the same period of 2010; Y150 million in operating profit; Y100 million in pretax profit; and Y30 million in net profit.
last modified : Mon 16 May, 2011 [11:12]
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