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Meiko Lowers Fiscal 2012 Forecast

Published: 28 November 2011
 by Staff

TOKYO -- Meiko Electronics has lowered its fiscal 2012 revenue forecast 7% after temporarily suspending operations in Wuhan, China, following an investigation into its environmental practices.

The printed circuit board manufacturer now forecasts sales of 33.1 billion yen ($423 million), down from an earlier forecast of 35.5 billion yen. The company did say it expects net profits of 1.7 billion yen, up from its earlier forecast of 1.6 billion yen.

In its fiscal 2011, ended March 31, 2011, the company reported losses of 3.1 billion yen on sales of 74 billion yen.

It has been a difficult 2011 for the PCB fabricator. The March earthquake and tsunami in Japan devastated its factories in Fukushima and Miyagi, and allegations last month of environmental issues halted operations at its China plant.

Ed.: 1 JPY = 0.0127862 USD

 

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