Nippon Electric Glass Reports Extraordinary Loss and Earnings Discrepancy for FY2024

An announcement from Nippon Electric Glass Co ( (JP:5214) ) is now available.

Nippon Electric Glass Co., Ltd. announced an extraordinary loss in its fiscal year 2024 due to decreased profitability in its display and composites businesses, attributed to rising raw material and energy costs. This resulted in a significant impairment loss and a notable difference between the company’s earnings forecasts and actual results, impacting net sales and profits, although operating and ordinary profits saw some improvement due to productivity gains and foreign exchange benefits.

More about Nippon Electric Glass Co

Nippon Electric Glass Co., Ltd. operates in the glass industry, focusing on the production of glass products for various applications, including displays and composites. The company is listed on the Prime Market of the Tokyo Stock Exchange and faces a competitive market environment, particularly in raw materials and energy costs.

YTD Price Performance: 8.97%

Average Trading Volume: 1,200

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $1.9B

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