Post Time：Dec 23,2008Classify:Company NewsView：475
Asahi Glass Co. (5201.TO) Thursday slashed its profit outlook for this fiscal year ending Dec. 31 as globally falling demand for automobiles, new homes and electronics products ate into the company's glass sales.
The glass maker cut its net profit estimate to Y47 billion from Y65 billion and operating profit forecast to Y160 billion from Y180 billion.
The stronger yen, which affects repatriation of profits from overseas and competitiveness of exported products, is also hurting Asahi Glass' profitability in the form of increased non-operating costs, it said.
Source: Dow Jones NewswiresAuthor: shangyi
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