NIPPON OIL SEES SHARPLY LOWER SALES AND PROFITS

  Nippon Oil Co Ltd &lt;NPOL.T> predicted
  parent company net profit of about nine billion yen in the year
  ending March 31, down 10.4 pct from a year earlier, president
  Yasuoki Takeuchi told a press conference.
      Current profit for the year was estimated at 17 to 18
  billion yen, down 20 to 24 pct from a year earlier, he said.
      Takeuchi said sales are expected to fall 40 pct to 1,700
  billion yen for the fifth consecutive year-on-year drop. This
  year's fall was due to lower selling prices for end-users,
  which more than offset the yen's appreciation. The company will
  retain six yen dividend for 1986/87.
  

