Asahi Glass Co. Ltd. reported consolidated earnings results for the fourth quarter and full year ended March 31, 2013. The company reported operating income fell from JPY 19.1 billion in the fourth quarter to 15.5 or JPY 15.8 billion, down by about JPY 3.3 billion. Net sales were JPY 306,372 million against JPY 285,376 million a year ago. Ordinary income was JPY 15,611 million against JPY 23,620 million a year ago. Net income was JPY 7,630 million, or JPY 6.33 per diluted share against net income of JPY 17,749 million, or JPY 14.22 per diluted share a year ago. For the year, the company reported net sales of JPY 306.4 billion, up JPY 21 billion year-on-year. Operating income was JPY 15.8 billion, down JPY 8.4 billion year-on-year. Net income totaled JPY 7.6 billion. Cash flows from operating activities were net inflow of JPY 40.6 billion. Free cash flow was net outflow of JPY 1.5 billion due to increase in purchase of the property, plant and equipment during this quarter. CapEx was JPY 38.5 billion. Interest-bearing debts increased from the end of last year to JPY 564.6 billion. The outlook for fiscal year ending December 31, 2013, the company expects the sales stands at JPY 1.3 trillion, operating income at JPY 100 billion, net income at JPY 50 billion, ordinary income at JPY 90,000 million and net income per share at JPY 43.27. For the first half, the sales is forecasted at JPY 600 billion, operating income at JPY 40 billion and net income at JPY 20 billion. The planned CapEx for this year is JPY 170 billion. Ordinary income is expected to be JPY 30,000 million and net income per share of JPY 17.31. The company provided dividend guidance for the first half and fiscal year 2013. For the full year, the company expects dividend of JPY 26 per share. For the first half, the company is forecasted dividend of JPY 13 per share.

Asahi Glass Co. Ltd., Q1 2013 Earnings Call, May 10, 2013

AGC announced that it will establish a wholly owned regional headquarters, AGC Asia Pacific Pte. Ltd., in Singapore for strategic coordination of AGC Group business throughout the Southeast Asia region this July. The regional headquarters also will handle marketing analysis and sales of group products, aiming to contribute to regional societies with advanced products and services relating to people's lives, environment, imaging, communications and energy.