Key Developments: Asahi Glass Co Ltd (5201.T)

5201.T on Tokyo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Asahi Glass Co Ltd lowers consolidated full-year outlook for FY 2014
Thursday, 31 Jul 2014 02:00am EDT 

Asahi Glass Co Ltd:Says the company lowered the consolidated full-year outlook for the FY ending Dec. 2014.Revenue forecast decreased to 1,350,000 million yen from 1,400,000 million yen.Operating profit forecast decreased to 65,000 million yen from 75,000 million yen.Ordinary profit forecast decreased to 35,000 million yen from 40,000 million yen.Net profit forecast decreased to 20,000 million yen from 25,000 million yen.Earnings per share decreased to 12.98 yen from 17.30 yen.FY 2014 revenues of 1,369.46 billion yen, reported net profit of 21.84 billion yen – Thomson Reuters I/B/E/S.Comments that selling price and shipments of glass lower than expected is the main reason for the forecast.  Full Article

Asahi Glass Co Ltd subsidiary AGC Glass Europe to close factory
Thursday, 26 Jun 2014 10:30pm EDT 

Asahi Glass Co Ltd:Subsidiary AGC Glass Europe decided to stop a solar cell cover glass production and close factory in Europe, on June 27.  Full Article

Petronas Chemicals Group Bhd completes divestment of subsidiary to Asahi Glass Co Ltd and Mitsubishi Corp
Thursday, 12 Jun 2014 08:00pm EDT 

Petronas Chemicals Group Bhd:Says it has completed the agreement to divest its entire 93.11 pct interest in Phu My Plastics and Chemical Co Ltd (PMPC) to Asahi Glass Co Ltd and Mitsubishi Corporation.This is pursuant to PCG announcement made on Nov. 6, 2013.With this sale completion, PMPC ceases to be a subsidiary of PCG.PMPC employees will continue to be employed under the new owners.  Full Article

R&I affirms rating on Asahi Glass at "AA-" and rating outlook stable
Friday, 30 May 2014 02:00am EDT 

Asahi Glass Co Ltd:Rating and Investment Information, Inc. (R&I) has affirmed the rating on the company at "AA-".The rating outlook is stable.  Full Article

Petronas Chemicals Group Bhd Divests Stake In Phu My Plastics And Chemical Company Ltd To Asahi Glass Co. Ltd and Mitsubishi Corporation
Wednesday, 6 Nov 2013 04:51am EST 

Petronas Chemicals Group Bhd announced that it has entered into an agreement to divest all its interest in Phu My Plastics and Chemical Company Ltd. (PMPC) to Asahi Glass Co. Ltd. and Mitsubishi Corporation. PCG holds 93.11% interest in PMPC, a company located in Vietnam with a production capacity of 100,000 metric tonnes per annum of polyvinyl chloride (PVC). The divestment is part of PCG’s plan to discontinue its vinyl business as announced last year, in line with its portfolio optimisation strategy. Completion of the divestment is expected by Q2 2014, subject to conditions in the agreement being met. Deutsche Bank acted as financial adviser to PCG in relation to the transaction.  Full Article

Moody's Changes Asahi Glass Co Ltd's Outlook to Negative; Affirms A2-Moody's Investors Service Press Release
Sunday, 18 Aug 2013 08:00pm EDT 

Moody's Investors Service Press Release disclosed that Moody's Japan K. K. has changed Asahi Glass Co Ltd's outlook to negative from stable and affirmed all existing ratings including the A2 long term issuer rating and the P-1 commercial paper rating.  Full Article

Asahi Glass Co Ltd Amends Consolidated Full-year Outlook and Lowers Year-end Dividend Forecast for FY 2013
Wednesday, 31 Jul 2013 02:00am EDT 

Asahi Glass Co Ltd announced that it has raised its consolidated full-year outlook for revenue from JPY 1,300,000 million to JPY 1,350,000 million, but lowered the outlook for operating profit from JPY 100,000 million to JPY 70,000 million, ordinary profit from JPY 90,000 million to JPY 65,000 million, net profit from JPY 50,000 million to JPY 10,000 million and earning per share from JPY 43.26 to JPY 8.65 , for the fiscal year ending December 2013. The Company lowered the outlook due to the decreased demands, the lower selling price, the increased cost in overseas subsidiaries, as well as the record of extraordinary loss on the glass business restructuring, among others. In addition, the Company has lowered its year-end dividend forecast from JPY 13 per share, which was announced on February 7, 2013, to JPY 5 per share, for the fiscal year ending December 2013.  Full Article

R&I Downgrades Rating on Asahi Glass Co Ltd to “AA-”; Rating Outlook Stable
Monday, 15 Apr 2013 02:00am EDT 

Rating and Investment Information, Inc. (R&I) announced that it has downgraded the rating on Asahi Glass Co Ltd from “AA” to “AA-”. The rating outlook is stable.  Full Article

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