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Nippon Sheet Glass announces Revision of Operating Result Forecast and Recognition of Extra-ordinary Gain

Date
06 Jul 2007
In connection to the sale of the flat glass business in Australasia announced on 29th June 2007, Nippon Sheet Glass Co., Ltd. (“the Company”) announces the revisions made to its forecast of operating results published on 31st May 2007 and the recognition of extra-ordinary gain for the full fiscal year 2008 ( April 2007 through March 2008 ) as below.

I. Estimation of the extra-ordinary gain from the sale of business:

JPY 25-35 Billion.

The Company has sold the business by way of selling all the issued shares of the holding company, named Pilkington Australia Finance Pty Ltd. Since the Company is still working on to finalize the value of the assets and liabilities of the business and also the resulting income tax should be calculated based upon the said value, the Company have to show the gain from the sale in an above range at this present.

The final amount of the gain will be announced as soon as it is fixed.

II. Revised forecast for the consolidated result

The Company revises its forecast of operating results, published on 31st May 2007, for the full fiscal year 2008 ( 1st April 2007 through 31st March 2008 ) as below.

1. Interim result (1st April 2007 through 30th September 2007)

Unit: JPY million,%

 

Net Sales

Income before
extra-ordinary items

Net Income

Previous forecast (A)
on 31st May 2007

420,000

12,000

9,000

Revised forecast (B)

420,000

12,000

29,00039,000

Change (B-A)

0

0

+20,00030,000

Change (%)

0.0%

0.0%

+222.2333.3%

Previous year result

273,259

7,250

20,259



2. Full year result (1st April 2007 through 31st March 2008)

Unit: JPY million,%

 

Net Sales

Income before
extra-ordinary items

Net Income

Previous forecast (A)
on 31st May 2007

830,000

24,000

15,000

Revised forecast (B)

830,000

24,000

35,00045,000

Change (B-A)

0

0

+20,00030,000

Change (%)

0.0%

0.0%

+133.3200.0%

Previous year result

651,547

8,001

12,095

III. Forecast for the non-consolidated result

The forecast for the non-consolidated result is not published.