Issue Date: April 13, 2009
Asahi, Shin-Etsu Warn On Profits
Japan's Asahi Kasei expects to post a net profit of $70 million on sales of $15.6 billion in the fiscal year that just ended on March 31. The new profit forecast is 50% lower than the estimate the company released as recently as Feb. 9. Asahi says Chinese demand contracted more than expected. It will also incur restructuring expenses because of last month's decision to stop producing polyester in Japan. Meanwhile,
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