Ceramic Industry

AGC First Quarter Sales Drop 7.5%; Glass Operations See Slight Increase

May 15, 2012

Asahi Glass Co. Ltd. (AGC) recently posted financial results for the three months ended March 31. Net sales were ¥285.4 billion (~ $3.5 billion), down 7.5% from ¥23.2 billion (~ $293 million) in the corresponding period of the previous year.

Operating income decreased by ¥30 billion (~ $374 million), or 55.3% year-on-year to ¥24.2 billion (~ $302 million), and ordinary income decreased by ¥34.4 billion (~ $429.9 million) or 59.3% to ¥23.6 billion (~ $294.9 million). Net income was ¥17.7 billion (~ $221 million), a ¥20.7 billion (~ $258.6 million) or 53.8% decrease on a year-on-year basis.

Net sales from the Glass Operations for the three months ended March 31 were ¥139.2 billion yen (~ $1.7 billion), up ¥2.1 billion (~ $26 million) or 1.5% from the same period of the previous fiscal year. Operating income was ¥0.8 billion (~ $9.9 million), down ¥5.7 billion (~ $71 million) or 88.2% from the same period of the previous fiscal year.

For more information, visit www.agc-group.com/en.