Japanese Autoparts Firms To See 33.4% Profit Drop.

Japanese autoparts makers are expecting a drop of 33.4 percent drop in profits for the JFY 1999, compared with FY 1998, according to the Japan Auto Parts Industries Association. The association said slow Japanese vehicle production and continued economic recession were reasons for the expected weakness in earnings. For the most recent quarter, the firms' profits fell 45.5 percent to 73.7 billion yen, compared with the same quarter, last year, This drop was attributed to a decline in prices and to more costly product development.