Nippon Electric Glass reported group recurring profit (pre-tax profit excluding extraordinary items) of JPY 34.67 million (US$327.64M) for the first three quarters of fiscal 2004/2005, ending 31 March 2005, up 44.3% year-on-year. Group net profit fell 37.5% on an annual basis to JPY 4.91 billion (US$ 46.41M). Consolidated sales rose by 8.9% year-on-year to JPY 236.44 billion (US$ 2.23BN) in the first nine months of 2004/05. The company expects recurring profit of JPY 46 billion (US$ 434.65M) and net profit of JPY 11 billion (US$ 103.94M) for the whole of 2004/2005, on consolidated sales of JPY 310 billion (US$ 2.92BN). The forecast is an upward revision of the company's outlook from October 2004 on the back of strong demand for glass used to make flat-screen displays. Nippon Electric Glass was established in December 1949. It has a paid-up capital of JPY 18.3 billion (USD 172.91 million/EUR 134.3 million) and employs 3,077. The company is based in Otsu, western Japan.
