Okamoto Glass Co., Ltd. Sells Shares of Wholly Owned Subsidiary; Expects Extraordinary Profit and Amends FY 2012 Outlook

Okamoto Glass Co., Ltd. announced that it has sold all shares of its wholly owned subsidiary, which is engaged in the deposition of reflector glass substrate for projector use in Jiangsu, China, at the price of JPY 1 million, on September 30, 2011. As a result, the Company holds no stakes in the subsidiary, down from 100%. The Company expects to record JPY 267 million gain on reversal of foreign currency translation adjustment as extraordinary profit for the fiscal year ending March 2012. Therefore, the Company reaffirmed its consolidated mid-year outlook for revenue of JPY 3,091 million, operating profit from of JPY 121 million, ordinary profit of JPY 107 million, and raised consolidated mid-year outlook for its net profit from JPY 245 million to JPY 512 million and earning per share from JPY 15.37 to JPY 32.12 for the fiscal year ending March 31, 2012. The Company also reaffirmed its consolidated full-year outlook for revenue of JPY 7,000 million, operating profit of JPY 420 million, ordinary profit of JPY 441 million, and raised its consolidated full-year outlook for net profit from JPY 567 million to JPY 834 million and earning per share from JPY 35.37 to JPY 52.32 for the same fiscal year.