Asahi Sales Decrease, Profits Increase
TOKYO, Feb. 16, 2016 — Asahi Glass Co. Ltd. has announced a decrease in net sales for fiscal 2015.
Net sales amounted to ¥1,326.3 billion (about $11.5 million), down ¥22 billion year over year due to lower sales in the display business. Operating profits, however, increased by ¥71.2 billion ($620.8 million), up ¥9 billion ($78.5 million), with Asahi citing structural reform of the architectural glass business and a decline of raw materials and fuel prices as reasons for this increase.
Profits for the year amounted to ¥42.9 billion, up ¥27 billion due to income from the revision of the company’s corporate pension plan.
Chemical sales showed the highest operating profit due to the improved spread of overseas chlor-alkali business. Electronic operating profit went down due to a decrease in shipments of LCD glass, solar power system glass and electronics materials.
Asahi Glass is a manufacturer of float plate, figures, low-E and processed glasses for the construction, automotive and electronics fields.
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