Asahi Glass posted a 5% decrease in sales for H1 2012, down by JPY30.4bn as a result of the fragile global economy.
It said the global economic environment for first six months of the year was characterised by a gradual recovery, but the pace of economic recovery decelerated.
This was due to a slowdown in exports and domestic demand among growing countries as well as financial problems in Europe.
Its good news was its net sales from its Glass Operations for H1 were up by JPY5.5bn (2%) to JPY278.2 billion, mainly due to the automotive sector.
AGC Group’s shipments in Europe were on the same level as the previous year despite a y-o-y decrease in auto production in the region. Shipments in Japan increased from the same period of the previous year, which was affected by the Japan earthquake.
Shipments in Asia and North America also increased backed by strong auto production in each region, leading to an increase in sales from the same period of the previous fiscal year.
AGC’s shipments of architectural glass in Japan increased y-o-y while shipments in Asia remained strong. Shipments to North America and Europe declined due to sluggish demand.
Shipments of glass for solar power systems decreased due to declining market growth and a competitive environment.
It forecast the global economy to remain uncertain for the rest of the year but believes automotive glass shipments will increase, as shipments affected by the Japanese earthquake and Thailand floodings return to normal.
