Asahi Announces 12% Increase in Net Sales

Asahi Glass Co. Ltd. has announced results for the fiscal year from January 1, 2010, to December 31, 2010.

The company posted net sales of ¥1,288.9 billion (~ $15.47 million), which was a ¥140.7 billion (~ $1.7 billion) or 12.3% increase compared to the previous year. Operating income was ¥229.2 billion (~ $2.8 billion), compared to ¥142.5 billion (~ $1.7 billion) year-on-year, a 164.4% increase. Ordinary income of ¥226.8 billion (~ $2.7 billion), a 160.1% increase year-on-year; and net income of ¥123.2 billion (~ $1.5 billion), which was a 516.4% increase year-on-year.

In the flat glass business, architectural glass shipments increased in all regions; shipments of glass for solar power systems were also strong. However, sales increased only slightly compared to the previous year due to the effect resulting from appreciation of the yen. In the automotive glass business, shipments were continuously strong due to the effects of demand-oriented stimulus measures implemented in various countries. Sales in this business increased compared to the previous year. As a result, net sales from the Glass Operations for the fiscal year were ¥570.9 billion (~ $7 billion), an 8.7% increase year-on-year. Operating income was ¥21.2 billion (~ $258 million), a ¥56.2 billion (~ $689 million) increase year-on-year.

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600450 Asahi Announces 12% Increase in Net Sales
Date: 21 February 2011

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