Asahi Glass Co. said Monday it posted a group net loss of 12.61 billion yen for fiscal 2001, marking its first bottom-line loss since going public in 1950.

The major glass maker attributed its poor earnings to extraordinary losses associated with structural reforms. It logged a group net profit of 24.72 billion yen the previous year.

Asahi Glass said group pretax profit fell 54.6 percent to 44.47 billion yen in fiscal 2001, with sales declining 3.8 percent to 1.26 trillion yen.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.