Asahi Rubber sees sales down 20 percent for full year

ERJ staff report (DS)

Tokyo

-- Asahi Rubber Inc. reported sales down by 22 percent for the 12

months ended 31 March, 2009, but the company expects sales for the

first half of the current year will be down by 41 percent. Asahi makes

and sells industrial rubber products, often from silicone, for the

medical, auto and information sectors.

Sales for the 12 months

amounted to yen 4900 million (euro 37.9 million), down by 21.9 percent

on the previous year. The company expects sales in the six months to 30

Sep 2009 to be down by 41 percent on the 2008 figure, at yen 1700

million. Sales for the full year are expected to be yen 3920 million,

down by around 20 percent on the most recent year.

Despite the

substantial decline in sales, Asahi expects to report an operating

profit in each of the periods. In the most recent 12 months, operating

profit was positive at yen 46 million, down from yen 414 million a year

previously. The forecast for the current year is a loss of yen 27

million, recovering from a loss of yen 73 million in the first half.

In

terms of net profit, Asahi recorded a yen 80 million loss for the most

recent year, down from a profit of yen 211 million a year ago. The

company expects a loss of yen 103 million in the first half, reducing

to yen 49 million for the full year ended March 2010.

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Reuters report