JAPAN: Polyester Giant Tejin Fears Slip Into The Red
Polyester giant Teijin Ltd on Thursday warned it expects to slip into the red during the first half due to restructuring costs related to the axing of loss-making operations. The firm said it now sees a group net loss of one billion yen for the six months to September 30 versus its prior outlook of break-even, with group sales seen down slightly at 446 billion yen but group operating profit outlook lifted to 15 billion yen from 10.5 billion yen.
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