Quarterly group revenues at Nippon Sheet Group were 9% down from the previous year, at ¥ 385.0bn ($4bn) compared to ¥420.8bn ($4.49bn).
It said its drop in profit from the corresponding quarter the previous year was down to ¥4.7bn from ¥12bn was a result of challenging market conditions, particularly in Europe.
Its automotive and technical glass divisions posted profits lower than the corresponding quarter, while its architectural division posted a loss.
In a statement it said automotive and architectural markets in Europe were particularly challenging but its North American automotive and architectural markets were showing steady improvement.
Its technical glass markets remain generally robust, although demand for glass cord and printer components are weak. Its Solar Energy glass declined further with cumulative volumes well below the previous year.
The company is in the process of restructuring and its three core areas for this are capacity reduction, overhead reductions and operational improvements.
As of Dec 31, 2012, 2350 people had left the group with the closure of two European float lines, a temporary reduction in UK float capacity and a consultation to close two European Automotive facilities previously announced.
It said its near-term focus was on profit improvement while value-added products were key to its longer-term growth plans.
