For the first quarter of fiscal 2011 (from January 1, 2011 to March 31, 2011), the global economic environment surrounding the Company and its consolidated subsidiaries (hereinafter collectively referred to as the "AGC Group" or simply as the "Group") is characterized by a gradual recovery in developed countries and economic expansion in emerging countries.
Demand for architectural glass continued to stay on a gradual recovery trend in Japan, Asia and Europe, while demand in North America remained sluggish. Shipments of architectural glass decreased in all regions compared to the previous quarter due to seasonal factors.