January 25 2017
Corporate Name: Asahi Glass Co., Ltd. President & CEO: Takuya Shimamura (Code Number: 5201; TSE 1st section) Contact: Kazumi Tamaki, General Manager,
Corporate Communications & Investor Relations
Corporate Planning Division (Tel: +81-3-3218-5603)
(Progress Report on Previously Disclosed Matter) Notice regarding Revision to Full Year Consolidated Financial Forecasts for Fiscal Year Ending December 31, 2016AGC Asahi Glass ("the Company") announced today the forecast figures associated with the revision to the consolidated financial forecasts for the fiscal year ending December 31, 2016, which was announced on January 19, 2017,
-
Revision to the consolidated financial results forecasts
Revision to the FY2016 consolidated financial results forecasts
(January 1 through December 31, 2016) (Unit: Millions of yen; %)
Net sales
Operating profit
Profit before tax
Profit for the period
Profit for the period attributable to owners of the parent
Basic earnings per share (Yen)
Previous forecast (A)
1,280,000
84,000
54,000
36,000
30,000
25.95
Revised forecast (B)
1,280,000
95,000
67,000
52,000
46,000
39.78
Change (B - A)
0
11,000
13,000
16,000
16,000
-
Change (%) (B - A)/A
0.0
13.1
24.1
44.4
53.3
-
(Reference)
Actual results for FY2015
1,326,293
71,172
84,522
46,287
42,906
37.12
Notes: "Previous forecast (A)": Forecasts announced on July 14, 2016
"Revised forecast (B)": Forecasts of Net Sales and Operating Profit announced on January 19, 2017, and those of Profit before tax, Profit for the period, Profit for the period attributable to owners of the parent and Basic earnings per share, which were being reviewed as of January 19, 2017.
- Reasons for the revision
Operating profit is expected to exceed the previous forecast mainly because of the favorable performance of the Group's chemicals business, the strong shipments of LCD glass substrates and the temporary gain (approximately 2 billion Japanese yen) from a revision to the pension plan at a US subsidiary.
In addition to the increase in operating profit as mentioned above, profit for the period and profit
for the period attributable to owners of the parent are expected to exceed the previous forecasts and the results of the previous year, partly owing to an increase in deferred tax assets and a reverse in income taxes adjustment following the recovery in the Group's business performance.
Note: The above-mentioned forecasts are based on the information available at the time of preparation for this announcement, and actual performance may differ from these forecasts due to various factors.
AGC - Asahi Glass Co. Ltd. published this content on 25 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 January 2017 06:06:04 UTC.
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