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    5201   JP3112000009

AGC INC.

(5201)
  Report
Delayed Japan Exchange  -  02:00 2022-09-30 am EDT
4490.00 JPY   -1.75%
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AGC : Notice regarding Revision to Full Year Consolidated Financial Forecasts for Fiscal Year Ending December 31, 2022

08/02/2022 | 02:10am EDT

August 2, 2022

Corporate Name: AGC Inc.

President & CEO: Yoshinori Hirai

(Code Number: 5201; TSE Prime Market)

Contact: Chikako Ogawa, General Manager,

Corporate Communications & Investor Relations Division

(Tel: +81-3-3218-5603)

Notice regarding Revision to Full Year Consolidated Financial Forecasts

for Fiscal Year Ending December 31, 2022

In the light of recent business performance, AGC Inc. ("the Company") has revised its full year consolidated financial

forecasts for the fiscal year ending December 31, 2022, which were announced on February 8, 2022.

1. Revision to the consolidated financial results forecasts

  1. Revision to the FY2022 consolidated financial forecasts
    [January 1 through December 31, 2022]

(Unit: Millions of yen; %)

Profit for the

Profit for the

period

Basic earnings

Net sales

Operating profit

Profit before tax

attributable to

period

per share (Yen)

owners of the

parent

Previous forecasts announced

1,800,000

210,000

197,000

143,000

115,000

518.95

on February 8, 2022 (A)

Revised forecasts (B)

2,050,000

230,000

217,000

157,000

120,000

541.44

Change (B - A)

250,000

20,000

20,000

14,000

5,000

22.49

Change (%) (B - A)/A

13.9

9.5

10.2

9.8

4.3

4.3

(Reference)

1,697,383

206,168

210,045

159,062

123,840

559.11

Actual results for FY2021

(2) Reasons for the Revision of Consolidated Financial Forecasts

The Company has upwardly revised the previously announced forecasts for net sales because, in addition to the better- than expected result in the first half of the year, the Company expects in the second half of the year that sales prices of caustic soda and vinyl chloride resin (PVC) in Southeast Asia in the Chemicals segment will remain higher than expected, that the Company will be able to pass on the higher raw materials and fuel prices to sales prices in the architectural glass business in Europe, and that the figures will be affected by the impact of foreign exchange rates.

The forecasts for operating profit, profit before tax, profit for the period, and profit for the period attributable to owners of the parent have also been revised as shown in (1) above, in light of the results for the first half of the fiscal year.

In revising the full year consolidated financial forecasts for the fiscal year ending December 31, 2022, the average exchange rates assumed for the fiscal year ending December 31, 2022 have also been revised from 115.0 Japanese Yen to 131.0 Japanese Yen to the U.S. dollar and from 129.0 Japanese Yen to 138.0 Japanese Yen to the Euro.

(Note) The financial results forecast above was prepared based on information available as of the day of this announcement. Actual results may differ from the forecast figures for various reasons.

Disclaimer

AGC - Asahi Glass Co. Ltd. published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 06:09:28 UTC.


© Publicnow 2022
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Financials
Sales 2022 1 998 B 13 810 M 13 810 M
Net income 2022 126 B 870 M 870 M
Net Debt 2022 459 B 3 171 M 3 171 M
P/E ratio 2022 7,92x
Yield 2022 4,70%
Capitalization 995 B 6 878 M 6 878 M
EV / Sales 2022 0,73x
EV / Sales 2023 0,70x
Nbr of Employees 55 999
Free-Float 86,9%
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Number of Analysts 8
Last Close Price 4 490,00 JPY
Average target price 6 287,50 JPY
Spread / Average Target 40,0%
EPS Revisions
Managers and Directors
Takuya Shimamura President, CEO & Representative Director
Shinji Miyaji CFO, Representative Director & Executive VP
Yoshinori Hirai Director, CTO & Senior Managing Executive Officer
Michitaka Goto Manager-Planning & Administration
Yasuchika Hasegawa Independent Outside Director
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