Showa Denko KK (4004.T)
Latest Key Developments (Source: Significant Developments)
Showa Denko expects extraordinary loss for Q4 of FY 2015; expects extraordinary profit for FY 2015; lowers consolidated full-year outlook for FY 2015
Showa Denko KK:Says it expects an extraordinary loss of 10,184 mln yen recorded as impairment loss for Q4 of fiscal year ended Dec. 31, 2015.Says it expects an extraordinary profit of 6,328 mln yen recorded as gain on sale of securities for fiscal year ended Dec. 31, 2015.Says the company lowered the consolidated full-year outlook for revenue to 780,958 mln yen from 785,000 mln yen for the fiscal year ended Dec. 31, 2015.Sees a decrease of operating profit forecast to 33,672 mln yen from 34,000 mln yen.Ordinary profit forecast increased to 32,225 mln yen from 31,000 mln yen.Sees a decrease of net profit forecast to 969 mln yen from 7,000 mln yen.Sees a decrease of earnings per share to 0.68 yen from 4.90 yen.Says revenue outlook lowered due to the decreased sale price, and ordinary profit outlook raised due to improvement in financial balance and foreign exchange gains. Full Article
WASHINGTON The U.S. Justice Department is barring Japan's Showa Denko, which struck a deal to buy Germany's SGL Group's graphite electrode assets globally, from purchasing its U.S. business.