Chuo Spring Co Ltd (5992.T)
Latest Key Developments (Source: Significant Developments)
Chuo Spring Co Ltd:Says a China-based investment company to inject capital in the company's wholly owned China-based subsidiary Xiaogan Zhongxing Automotive Components Co., Ltd.The company's stake in Xiaogan Zhongxing Automotive Components Co., Ltd. to decrease to 80 pct from 100 pct.Planned effective in the middle of March. Full Article
Chuo Spring Co Ltd:Says the company lowered the consolidated mid-year outlook for revenue to 40,600 million yen from 40,000 million yen for FY ending March 2016.Sees a decrease of operating profit forecast to -150 million yen from 100 million yen.Confirms the ordinary profit forecast at 100 million yen.Confirms the net profit attributable to parent company's shareholders forecast at 50 million yen.Confirms the earnings per share at 0.8 yen.Says the company lowered the consolidated full-year outlook for revenue to 83,000 million yen from 85,800 million yen for FY ending March 2016.Sees a decrease of operating profit forecast to 900 million yen from 1,300 million yen.Sees a decrease of ordinary profit forecast to 1,000 million yen from 1,400 million yen.Sees a decrease of net profit attributable to parent company's shareholders forecast to 600 million yen from 800 million yen.Sees a decrease of earnings per share to 9.57 yen from 12.76 yen.Comments the sales decrease is the main reason for the forecast. Full Article
* Says the U.S.-based unit Chuo Precision Spring Glasgow, Inc. will undertake merger with the U.S.-based unit ACK Controls Inc.