Japan - Imports Push Down (Flat) Glass Firm Prices

Japan's 3 leading glassmakers are forecasting reduced sales for the year ending March/97 as a result of continued low unit prices caused by the invasion of imports. The depression in the building industry will continue to negatively affect profitability at Nippon Sheet Glass. While shipments of multi-paned glazing for residental use are up dramatically, high production costs keep profits fairly low. Cutting distribution costs will help double operating profit to Y2.5bn, & NSG hopes to boost current profit by 16% by selling off stock. Asahi Glass will see sales down 3% due to stagnation in chemical related areas, though it should see current profit up 4%. Central Glass will see sales down 1% with current profits down 36%.