Asahi Glass Announces Change in Accounting Term

Asahi Glass Co., Ltd. (hereinafter “the Company” announces that it decided at a meeting of its board of directors convened on May 15, 2003 to submit its proposal to change the accounting term as described below, to the general shareholder meeting slated for June 27, 2003.1.

Rationale for the change

Standardization of accounting term for the Company and the Group firms to disclose business results consistent with one another, is aimed at fair, appropriate disclosure of management information (such as quarterly financial results) to further improve transparency of the corporate management. In addition, it is supposed to promote clearer positioning of the Company as a global corporation, by making its business year conform to those of major corporations overseas.

2. Changing the date of account closing

At present: March 31 of every year. After the change: December 31 of every year. The 79th fiscal year, a transitional period for the change in the accounting term, will cover nine months from April 1, 2003 to December 31, 2003.

3. Future outlook (Earnings forecast for the 79th term)

- Consolidated earnings forecast

600450 Asahi Glass Announces Change in Accounting Term

See more news about:

Others also read

Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
When did the wine industry start using glass bottles, and how did they settle on their current size of 750ml? For the answer to these questions, you have to go back in time - back thousands of years to when wine was first cultivated and enjoyed.
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.
KUB Malaysia Bhd has accepted an offer from Nippon Sheet Glass Co Ltd (NSG) to acquire its 15% stake in Malaysian Sheet Glass Bhd (MSG) for RM32.6 million in cash, or RM2.68 per share.
Co-Ventures in Glass Containers (CVIGC, Ltd.) of Tampa, Florida, USA and Micro-Tek Canada, Inc. Of Toronto, Canada are excited to announce the beginning of a long term joint venture to combine their extensive experiences and resources to offer the Glass Container Industry globally a best value alternative for all their outsourcing needs in manufacturing, operations and technical assistance agreements, specifically targeted to the smaller manufacturers who have found the larger service companies to be cost and profit prohibitive.The principals of the two companies have found a global need for smaller glass companies who require excellent technical resources to properly compete within the industry without the high costs of employing their own staffs or outsourcing their requirements to the larger service companies whose own operating costs and overhead are substantial.

Add new comment