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Chubu Steel Revises FY2011 Earnings Prospects
Japan's Nagoya-based electric steelmaker Chubu Steel Plate Co has announced downward revisions of its consolidated earnings prospects for fiscal 2011 (April 2011-March 2012). In the background lies slack growth in restoration demand for heavy plates, a principal item in the company's product mix, which would lead to lower sales volumes and prices than the initial expectations.

The new earnings prospects are Y43.1 billion in sales, down Y5,000 million or 10.4% from the previous estimates; Y1,300 million in operating profit, down Y700 million or 35.0%; Y1,400 million in pretax profit, down Y700 million or 33.3%; and Y700 million in net profit, down Y500 million or 41.7%.
last modified : Thu 29 Mar, 2012 [15:17]
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