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Shimizu Swings to Operating Loss

Shimizu Swings to Operating Loss

   Tokyo, May 13 (Jiji Press)--Japanese construction company Shimizu Corp. said Monday it swung to an operating loss for the first time since its 1961 stock listing in the year ended last March due mainly to higher-than-expected material costs for several large-scale projects in the country.
   Shimizu posted a consolidated operating loss of 24.6 billion yen. Additional costs for meeting completion deadlines also weighed on the financial performance.

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AFP-JIJI PRESS NEWS JOURNAL


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