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(Update) Troubled Akebono Brake to Fall into Net Loss in FY 2018

(Update) Troubled Akebono Brake to Fall into Net Loss in FY 2018

   Tokyo, Feb. 12 (Jiji Press)--Struggling Japanese auto parts maker Akebono Brake Industry Co. <7238> said Tuesday that it now expects to report a consolidated net loss of 19.2 billion yen for fiscal 2018, which ends in March, against the earlier estimated net profit of 2 billion yen.
   The downward revision came as the company booked an impairment loss of 13.5 billion yen on fixed assets due to its poor business performance in North America.

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