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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63917)	5/20/2002 2:08:53 AM
From: StanX Long	Respond to of 70976

Furukawa Electric Has 26 Bln Yen 2nd-Half Loss as Sales Decline By Minoru Matsutani quote.bloomberg.com Tokyo, May 20 (Bloomberg) -- Furukawa Electric Co., which bought Lucent Technologies Inc.'s optical-fiber business in November last year, said it had a second-half loss after sales and the value of its stockholdings declined. Furukawa Electric had a group net loss of 25.9 billion yen ($206 million), or 39.42 yen a share, in the six months ended March 31, compared with profit of 58.5 billion yen, or 89.16 yen, a year ago. Sales fell 14 percent to 387.4 billion yen. Furukawa, which has a 33 percent stake in Totoku Electric Co. and shares in JDS Uniphase Corp., has seen its earnings tumble after telecommunications companies cut spending on equipment when demand for their services failed to meet expectations. For the full year, Furukawa said it had a group net loss of 3.38 billion yen, or 5.16 yen a share, compared with profit of 167.4 billion yen, or 256.56 yen, a year ago. Annual sales fell 6.7 percent to 771.4 billion yen. The world's biggest maker of lasers used to speed data along fiber-optic lines said its net loss will be even wider this year even though it expects sales to rise.

To: StanX Long who wrote (63917)	5/23/2002 2:49:35 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Korea Finance Chief Says Hynix May Not Survive Alone (Update2) By Seyoon Kim and Ian King quote.bloomberg.com Seoul, May 23 (Bloomberg) -- South Korean Finance Minister Jeon Yun Churl said Hynix Semiconductor Inc. may not survive alone, and the government won't intervene in a creditors' decision to sell the world's third-largest maker of computer memory chips. ``We don't know whether it is possible for it to survive on its own,'' Jeon in a speech at a monthly economic forum. The government owns or controls all of Hynix's major creditor banks. Hynix needed two multibillion-dollar bailouts from creditors, who are about to take over the company and have said they plan to sell it in pieces. Last month, Hynix's board of directors rejected a $3 billion agreement negotiated by creditors to sell most of the company to rival Micron Technology Inc. ``Since creditors have built up provisions against Hynix loans, it's their responsibility to decide on the fate of Hynix,'' Jeon said. Creditors plan to take control of Hynix on June 7 by converting $2.3 billion of debt into shares.