Asahi Glass Announces Demerger and Transfer of Shares of Asahi Fiber Glass Co., Ltd.

Asahi Glass Co., Ltd. decided at its Board of Directors’ meeting held on September 12, 2007 to divest the glass wool and industrial materials operations from Asahi Glass Fiber Co., Ltd. and transfer the entire shares of a newly established company in the manner and on the basis described below:1.

Reasons for Demerger and Share Transfer

Asahi Glass, under its group vision, “Look Beyond”, is committed to concentrating its management resources in its core business fields, and is continuously reviewing the possibilities of revising its business portfolio and reallocating its management resources in the process of carrying out its three-year medium-term management plan, “JIKKO-2007”, which it implemented in 2005.

Asahi Fiber Glass Co., Ltd. (hereinafter referred to as “Current AFGC”) currently manufactures and sells glass wool for use as residential heat-insulating material, and fiberglass reinforced thermoplastics for use as industrial materials mainly in Japan. However, based on the judgment that these operations would generate little synergy in the future with the business fields in which its group would actively mobilize its resources, Asahi Glass has decided to transfer Current AFGC’s glass wool and fiberglass reinforced thermoplastics operations in keeping with its management policy to concentrate its management resources in the core businesses.

More specifically, Asahi Glass will first divest the glass wool and industrial materials operations as Current AFGC’s main businesses from Current AFGC, and then transfer the entire shares of a newly established company (carrying the corporate name of Asahi Fiber Glass Co., Ltd.; hereinafter referred to as “New AFGC”) to Current AFGC. Asahi Glass will continue to hold the entire shares of the demerged company that is slated to continue holding non-operating assets (including land and buildings) related to operations other than its main businesses (whose - 1 - corporate name would be changed from the tentative “Asahi Fiber Glass Co., Ltd.” to “AGC Estate Co., Ltd.”).

 

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600450 Asahi Glass Announces Demerger and Transfer of Shares of Asahi Fiber Glass Co., Ltd. glassonweb.com

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