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To: John Hunt who wrote (16341)	9/4/1998 6:07:00 AM
From: John Hunt	Read Replies (1) of 18056

In Japan, New Trouble Signs washingtonpost.com << In a jolting sign of how quickly Japan's economy is deteriorating, Toa Steel Co. said today that it will liquidate, creating the largest failure of a Japanese manufacturer since World War II, and electric machinery giant Hitachi Ltd. said it is facing its worst financial crisis since the war. Hitachi, one of Japan's largest manufacturers of electric machinery and semiconductors, said it expects a group loss of $1.8 billion in its current fiscal year, compared with a $25 million profit in the previous fiscal year. Meanwhile, Toa Steel said it has debts of $1.8 billion. It said it expects debts to exceed assets by about $336 million when it liquidates at the end of this fiscal year in March. The company will transfer its business to its largest shareholder, steelmaker NKK Corp. >>

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