Tokai Rubber projects higher income

ERJ staff report (DS)

Tokyo -- Tokai Rubber has revised upwards its projections for the 12 months to the end of March 2010. The company said sales would be a little higher than previously forecast, but that profits would improve substantially. The company said recovery in the automotive sector, combined with overall cost reduction activities were behind the improved forecasts.

Tokai now says sales in the 12 months will be yen 234 billion (euro 1901 million), compared with last year's sales of yen 274 billion and a previous forecast of yen 230 billion.

Operating profits are now expected to be yen 10 700 million, up from last year's result of yen 6079 million and a further improvement over the previous forecast of yen 7000 million.

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Press release from Tokai (Ja[panese language)

Above Press release auto-translated into English (from Japanese)