Earnings Growth For Asahi Despite Economic Situation

Asahi Glass has recorded earnings growth in the year to March 1998, strengthened by the strong earnings of units in south East Asia, Europe and the USA. Pre-tax profits increased last year by 13% to Y56.8bn on flat sales of Y1350bn. Separetely, Asahi Glass Co has cut the production of automotive glass at its Indonesian and Thai units by half. It also cut around 200 jobs at its Thai plant. Plans for a new plant in Indonesia have been put on hold as a result of a fall in production by motor manufacturers in Indonesia and Thailand. (whole item)