Hitachi Zosen Reports Extra Profit
October 1, 1999
Major Japanese shipbuilder Hitachi Zosen Corp. will obtain an extraordinary profit of $140 million in the ending in September due to a sale of idle land.
It will sell 30,316 sq. meters of land in Osaka for $150 billion to an affiliated Osaka-based real estate firm on Sept. 30.
The company also announced extraordinary losses of $130 million in the first half due to early retirement pay. It has not revised its earnings forecast for the year ending in March 2000.
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