April 1 (Bloomberg) -- NPC Inc. sank the most since listing in Tokyo after the Japanese maker of solar-cell manufacturing equipment reversed its outlook to a loss because of delays to parts shipments and reduced sales from the March 11 earthquake.
Tokyo-based NPC plunged 20 percent to 1,721 yen as of the close on the Tokyo Stock Exchange, the sharpest drop since July 2007. NPC debuted on the bourse’s Mothers section on June 29, 2007, when the stocks were untraded because buy bids outnumbered those to sell.
NPC expects a net loss of 128 million yen ($1.5 million) for its fiscal year ending August 31, saying damage from the earthquake is causing delays of more than a month for some parts shipments and imports, according to the company release yesterday. The company had forecast 1.44 billion yen profit and earned 823 million yen a year earlier. NPC slashed its full-year sales outlook 17 percent to 20.1 billion yen.
Also, NPC had its investment rating lowered to “sell” from “buy” by Mitsuhiro Osawa, an analyst at Ichiyoshi Securities Co.
To contact the reporter on this story: Norie Kuboyama in Tokyo at email@example.com.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.