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Nippon Electric Glass Co ( (JP:5214) ) has shared an announcement.
Nippon Electric Glass Co. has announced an extraordinary loss for the fiscal year 2024 due to decreased profitability in its display and composites businesses, primarily caused by increased raw material and energy costs. This loss led to impairment charges of 12.6 billion yen and 11.1 billion yen for the Japanese and Malaysian operations, respectively. Although operating and ordinary profits exceeded forecasts due to improved productivity and foreign exchange gains, the overall profit was below expectations, significantly impacting the financial results and highlighting the challenges faced by the company in the current economic climate.
More about Nippon Electric Glass Co
Nippon Electric Glass Co., Ltd. is a company primarily involved in the glass industry, focusing on producing display glass and composite materials. The company operates in the Prime Market of the Tokyo Stock Exchange and has a significant presence in Japan and Malaysia.
YTD Price Performance: 8.97%
Average Trading Volume: 1,200
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $1.9B
For detailed information about 5214 stock, go to TipRanks’ Stock Analysis page.
