Notice regarding Revision to Full Year Consolidated Financial Forecasts
for Fiscal Year Ending December 31, 2022
In the light of recent business performance trends and other factors, AGC Inc. ("the Company") hereby announces
that it has revised its full year consolidated financial forecasts for the fiscal year ending December 31, 2022, which
were announced on August 2, 2022.
1. Revision to the consolidated financial results forecasts
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 forecast announced
2,050,000
230,000
217,000
157,000
120,000
541.44
on August 2, 2022 (A)
Revised forecast (B)
2,050,000
190,000
177,000
128,000
92,000
415.08
Change (B - A)
－
△40,000
△40,000
△29,000
△28,000
－
Change (%) (B - A)/A
－
△17.4
△18.4
△18.5
△23.3
－
(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
No change has been made to the previous forecast for net sales. Compared to the previous forecast, lower sales prices of polyvinyl chloride in Southeast Asia and weaker shipments of glass substrates for LCDs are expected to be offset by higher sales prices of architectural and automotive glass and gains from the impact of foreign exchange rates due to the weaker yen.
Operating profit is expected to fall short of the previous forecast due to lower sales prices of polyvinyl chloride in Southeast Asia and weaker shipments of glass substrates for LCDs, as well as the impact of high prices of raw materials and fuel such as natural gas and electricity.
The forecasts for profit before tax, profit for the period, and profit for the period attributable to owners of the parent have also been revised in line with the revised forecast for operating profit.
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 131 Japanese Yen to 132 Japanese Yen to the U.S. dollar and from 138 Japanese Yen to 137 Japanese Yen to the Euro.
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AGC - Asahi Glass Co. Ltd. published this content on 02 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2022 06:19:37 UTC.
AGC Inc. specializes in the production and marketing of glass products. The group is also manufacturing chemical products. Net sales break down by family of products and services as follows:
- flat panes and car windows (44.2%);
- chemical products (39%): caustic soda, vinyl chloride, urethane substances, fluorinated resins, iodine, etc.;
- glass substrates for screens and for electronic equipment (15%);
- other (1.8%): ceramic, logistic services, etc.
AGC INC. 
