According to Japanese media reports, Japan Pacific Cement Company announced its consolidated final accounts from April to June 2012 on August 10, 2012. Among them, the final profit and loss position was a deficit of 5.3 billion yen (about 67.71 million US dollars), while the company's final profit and loss position from April to June 2011 was a deficit of 5.2 billion yen (about 66.43 million US dollars). The main reason for the slight increase in the company's deficit is that the performance of the company's equity law applicable company, Ssangyong Cement Company of Korea , has been sluggish, and the loss of equity law investment has expanded to 2.8 billion yen (about US $35.77 million). The company's equity method investment loss from April to June 2011 was 982 million yen ( $12.55 million).
Separately, Pacific Cement reported sales of 166.7 billion yen ( $2,129.73 million) in the April-June period, up 1% from a year earlier. In addition, due to the strong trend of cement sales in Japan, the operating profit and loss of Pacific Cement Company from April to June has been reversed from a deficit of 1.2 billion yen (about 15.33 million US dollars) from April to June 2011 to a profit of 490 million yen (about 0.0626 million US dollars).
In addition, according to the Pacific Cement Company, the main reason for the expansion of the company's equity investment losses is the temporary cost of Ssangyong Cement in Korea. In addition, as Pacific Cement has included the loss in the performance forecast announced in May, the company's performance forecast remains unchanged.
Note: The real-time exchange rate used in this manuscript is USD 1 = JPY 78.2730.
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