Business Services Industry
Aichi Steel Corp. Sees Net Loss on Impact from Ironworks Blast.
Knight Ridder/Tribune Business News, September, 2003
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Sep. 22--NAGOYA, Japan--Aichi Steel Corp. on Monday revised down its group net-balance projection for the April-September fiscal half to a loss of 800 million yen from the estimate of the 200 million yen profit released in April.
The predicted net loss for the first six months of any fiscal year would be the first time in three years that the manufacturer of specialty steel products has incurred such a midterm loss.
Aichi Steel blamed the downward revision on the effects of the Sept. 3 explosion at a coke gas tank at the Nagoya ironworks of Nippon Steel Corp. in Tokai, Aichi Prefecture, which left 15 people injured.
Aichi Steel said it incurred a one-off loss...
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