Semiconductor Industry Sales Trends Message Board

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Technology Stocks : Semiconductor Industry Sales Trends

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To: Michael Sphar who wrote (76)	9/3/1998 5:26:00 PM
From: Michael Sphar	Read Replies (1) of 105

Major loss by Hitachi forecast for current fiscal year: A service of Semiconductor Business News, CMP Media Inc. Story posted at 11:15 a.m. EDT/8:15 a.m. PDT, 9/3/98 Hitachi said to face $1.8 billion loss TOKYO -- Hitachi Ltd. here is expecting to report a big net loss--$1.8 billion, or 250 billion yen--in the fiscal year ending next March 31, 1999, the company said. Only this spring, Hitachi had forecast a $292 million net profit for the current fiscal year. The firm had previously predicted an $870 million (120 billion yen) loss in the fiscal year from its semiconductor operations. Sources believed this loss may grow for the rest of the fiscal year, and other Hitachi divisions are also in red ink as the firm's appliance, heavy industry, and electric power operations are being hard hit as well. The Japanese conglomerate is expected to suffer a 6% decline in sales, as the Japanese recession worsens.

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