Signing Of Agreement On Separation Of Marketing And Management Divisions Of Domestic Business Of Processed Glass For Construction

Date: 19 March 2007

Asahi Glass Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President & CEO: Masahiro Kadomatsu, hereafter “Asahi Glass”) announced that Asahi Glass and its wholly-owned subsidiary AGC AX Co., Ltd., (Head Office: Chiyoda-ku, Tokyo; President & CEO: Shinichi Harada, hereafter “AX”) signed the agreement regarding to separate Marketing and Management Divisions of domestic business of Processed Glass for Construction and then to be absorbed and succeeded on May 1, 2007 by AX that manufactures processed glass for construction (see January 18, 2007 press release “ Asahi Glass Separates Marketing and Management Divisions of Domestic Business of Processed Glass for Construction”).

Details of the agreement are summarized below.

On the same day of the corporate separation, AX will merge with and succeed Asahi Glass Housing Materials Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President & CEO: Koichi Asanuma, hereafter “AGH”), a wholly owned subsidiary of Asahi Glass selling processed glass for construction, and AX will change its corporate name to AGC Glass Products Co., Ltd..

1. Purpose of Corporate Separation

By integrating manufacturing, marketing and sales activities of processed glass, which are currently operated by different companies, Asahi Glass aims to accelerate decision making and to expand sales of high value-added products.

2. Outline of Corporate Separation

(1) Schedule for Corporate Separation (Spin-off will be conducted as a simplified procedures.)

January 18, 2007 Resolution of basic policies of Corporate Separation

March 15, 2007 Resolution and Conclusion of Corporate Separation Agreement

May 1, 2007 (provisional) Effective Date of Corporate Separation

Read the entire news on the source link below.