JAPAN: Earthquake recovery boosts Asahi Q3 auto glass shipments

Date: 9 November 2011
Source: http://www.just-auto.com
The automotive glass unit of Asahi Glass increased shipments in the third quarter of 2011 due to restoration of the supply chain and subsequent recovery of automobile production after the 11 March Japanese earthquake.

The entire glass division, which includes automotive business, reported Q3 net sales of JPY143.6bn (US$1.85bn) while operating income was JPY 1.8bn.

Total group sales for the three months ended 30 September totalled JPY302bn, down 5.3% year on year.

Group operating income fell 32.5% to JPY 37bn while net income decreased 45.7% to JPY 19.1bn.

The group's net sales for the nine months ending 30 September totalled JPY 916bn (US$ 11.73bn), down 4.7%.

Operating income totalled JPY 136.3bn, down 19.7%, while net income totalled JPY 76.02bn, down 30.5% compared with JPY 109.44bn in 2010.

For the full year to 31 December, the company expects net sales of JPY 1.25 trillion (down 3%), operating income of JPY 170bn (down 25.8%) and net income of JPY 90bn (down 26.9%).

600450 JAPAN: Earthquake recovery boosts Asahi Q3 auto glass shipments glassonweb.com

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