Nishikawa Rubber reports fall in sales, profits

ERJ staff report (DS)

Tokyo

-- Nishikawa Rubber Co Ltd (the parent) reported sales down by 15 percent for the 12

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

current year will be down by 20 percent. Nishikawa Rubber makes and sellsautomotive profiles -- especially weather stripping.

Sales

for the 12 months amounted to yen 42 750 million (euro 318 million), down by 15.1 percent on the previous year. The company expects sales in the

six months to 30 Sep 2009 to be down by 36 percent on the 2008

figure, at yen 315 700 million. Sales for the full year are expected to be

yen 34 500 million, down by around 19.3 percent on the most recent year.

Following

the decline in sales, Nishikawa expects to report a loss in each of the periods. In the most recent 12 months, operating

loss was yen 783 million, reversing a profit of yen 1520 million a year

previously. The forecast for the current year is a loss of yen 800 million, all incurred in the first half, with break-even forecast for the second half.

In terms of net

profit, Nishikawa recorded a loss of yen 1650 million for the most recent year, compared with a profit of yen 1330 million a year ago. The company expects a loss of yen 640 million in the first half, improving to to yen 520 million for the full year

ended March 2010.

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Reuters report

www.nishikawa-rbr.co.jp