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    5201   JP3112000009

AGC INC.

(5201)
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AGC : Notice regarding Revision to First Half and Full Year Consolidated Financial Forecasts and Dividend Forecasts for Fiscal Year Ending December 31, 2021

04/12/2021 | 02:03am EDT

April 12, 2021

Corporate Name: AGC Inc. President & CEO: Yoshinori Hirai (Code Number: 5201; TSE 1st section)

Contact: Kazumi Tamaki, General Manager, Corporate Communications & Investor Relations Division (Tel: +81-3-3218-5603)

Notice regarding Revision to First Half and Full Year Consolidated Financial Forecasts and

Dividend Forecasts for Fiscal Year Ending December 31, 2021

AGC Inc. ("the Company") has revised its first half and full year consolidated financial forecasts and dividend

forecasts for the fiscal year ending December 31, 2021, which were announced on February 5, 2021.

1. Revision to the consolidated financial results forecast

  1. Revision to the first half consolidated financial results forecast [January 1 through June 30, 2021]

(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

750,000

45,000

on February 5, 2021 (A)

Revised forecast (B)

800,000

85,000

Change (B - A)

50,000

40,000

Change (%) (B - A)/A

6.7

88.9

(Reference)

Actual results for First Half of

654,545

20,579

16,456

13,262

11,440

51.70

FY2020

  1. Revision to the FY2021 consolidated financial results forecast
    [January 1 through December 31, 2021]

(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

1,530,000

100,000

87,000

65,000

56,000

253.02

on February 5, 2021 (A)

Revised forecast (B)

1,650,000

160,000

142,000

105,000

83,000

375.02

Change (B - A)

120,000

60,000

55,000

40,000

27,000

122.00

Change (%) (B - A)/A

7.8

60.0

63.2

61.5

48.2

48.2

(Reference)

1,412,306

75,780

57,121

41,164

32,715

147.84

Actual results for FY2020

(3) Reasons for the Revision of Consolidated Earnings Forecasts

The AGC Group's net sales, operating profit, profit before tax, profit for the period and profit for the period attributable to owners of the parent for the first half of the fiscal year ending December 31, 2021 are expected to exceed the forecast which was announced on February 5, 2021. This exceed is due to factors such as the recovery of architectural glass and automotive glass businesses in the Glass segment, which is picking up at a speed faster- than-expected; as well as an increase in the selling price of polyvinyl chloride resin in the Chemicals segment.

Based on the first half consolidated financial forecast, the Company has also made an upward revision to the net sales, operating profit, profit before tax, profit for the period and profit for the period attributable to owners of the parent for the full year ending December 31, 2021.

2. Revision to the dividend forecasts

(1) Revision to dividend forecasts for the FY2021

Dividend per share (yen)

Interim

Year-End

Year-total

Previous forecast

60.00

60.00

120.00

(Announced on February 5, 2021)

Revised forecast

70.00

70.00

140.00

Actual payment for FY2021

Actual payment for FY2020

60.00

60.00

120.00

(2) Reason for revision of dividend forecasts

With regards to the return of profit to shareholders, the Company will maintain stable dividends with a target consolidated dividend payout ratio of 40% while comprehensively considering such factors as consolidated business performance in the fiscal year under review and future demand for funds.

As there was an upward revision to the consolidated forecasts for the fiscal year ending December 2021, in line with the dividend policy, the Company has decided to revise the interim and year-end dividend forecasts by increasing 10 yen per share from the previous forecast of 60 yen per share, to 70 yen per share. Accordingly, the annual dividend forecast will be 140 yen per share.

Disclaimer

AGC - Asahi Glass Co. Ltd. published this content on 12 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2021 06:02:11 UTC.


© Publicnow 2021
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Sales 2021 1 642 B 14 898 M 14 898 M
Net income 2021 94 937 M 861 M 861 M
Net Debt 2021 554 B 5 027 M 5 027 M
P/E ratio 2021 11,2x
Yield 2021 2,86%
Capitalization 1 060 B 9 616 M 9 619 M
EV / Sales 2021 0,98x
EV / Sales 2022 0,94x
Nbr of Employees 56 179
Free-Float 87,7%
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Number of Analysts 10
Average target price 5 755,00 JPY
Last Close Price 4 790,00 JPY
Spread / Highest target 42,0%
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Takuya Shimamura President, CEO & Representative Director
Shinji Miyaji CFO, Representative Director & Executive VP
Yoshinori Hirai Director, CTO & Senior Managing Executive Officer
Yasuchika Hasegawa Independent Outside Director
Hiroyuki Yanagi Independent Outside Director
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