Post Time:Dec 19,2008Classify:Company NewsView:423
Asahi Glass Co., Ltd. (the “Company”) has revised the outlook of consolidated operating results announced on October 31, 2008, for the fiscal year 2008 (January 1 through December 31, 2008), as described below.
1. Revised outlook of consolidated operating results for the fiscal year ending December 2008
[January 1 through December 31, 2008] (Unit: Millions of yen; %)
|
Net sales |
Operating income |
Ordinary income |
Net income |
Net income per share (Yen) |
Previously announced outlook (A) (announced on October 31, 2008) |
1,540,000 |
180,000 |
148,000 |
65,000 |
55.63 |
Outlook as revised this time (B) |
1,490,000 |
160,000 |
125,000 |
47,000 |
40.22 |
Change (B – A) |
(50,000) |
(20,000) |
(23,000) |
(18,000) |
- |
Change (%) (B – A)/A |
(3.2) |
(11.1) |
(15.5) |
(27.7) |
- |
Previous period (actual results for fiscal year ended December 31, 2007) |
1,681,238 |
197,452 |
187,878 |
69,634 |
59.35 |
2. Reasons for revision (consolidated)
The global economic environment has deteriorated further in the fourth quarter ending December 2008 (from October 1, 2008, to December 31, 2008), and domestic and overseas demand for housing, automobile, home electronics plunged more than expected. The Company expects further negative impact on the operating results for the AGC Group as a whole, including a significant drop in shipment of glass substrates for flat panel displays.
In addition, non-operating expenses are estimated to exceed the previous forecast due to rapid fluctuations in foreign exchange markets.
As a result, the outlook for consolidated net sales, operating income, ordinary income, and net income are expected to fall short of the outlook for consolidated operating results announced on October 31, 2008.
[Supplementary information]
Outlook of consolidated operating results by business segment (consolidated)
Fiscal year ending December 31, 2008 (Unit: Billions of yen)
Business segment |
Net sales |
Operating income |
||||
Previously announced outlook |
Outlook as announced this time |
Change |
Previously announced outlook |
Outlook as announced this time |
Change |
|
Glass |
790.0 |
765.0 |
(25.0) |
28.0 |
26.0 |
(2.0) |
Electronics and Display |
400.0 |
380.0 |
(20.0) |
137.0 |
124.0 |
(13.0) |
Chemicals |
320.0 |
315.0 |
(5.0) |
11.0 |
6.0 |
(5.0) |
Others |
90.0 |
90.0 |
0 |
4.0 |
4.0 |
0 |
Corporate or Elimination |
(60.0) |
(60.0) |
0 |
0 |
0 |
0 |
Consolidated total |
1,540.0 |
1490.0 |
(50.0) |
180.0 |
160.0 |
(20.0) |
Outlook of exchange rate
|
Fiscal year ending December 31, 2008 |
|
Previously announced outlook |
Outlook as announced this time |
|
Yen/US Dollar |
102 |
102 |
Yen/Euro |
150 |
150 |
Source: Asahi Glass Co., Ltd.Author: shangyi