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Sale of Non-current Assets and Recognition of Exceptional Gains

Date
13 May 2016

Nippon Sheet Glass Co., Ltd. (NSG) and its consolidated subsidiary, Malaysian Sheet Glass Sdn. Bhd. (MSG), announce that they have decided a sale and lease back of their respective non-current assets as set out below.

1. Sale of Non-current Assets by NSG

(1) Reason for transaction
For the purpose of the NSG Group’s balance sheet enhancement, NSG has decided to execute sale and lease back contracts of certain non-current assets as below. NSG will continue to use the said assets.

(2) Outline of the transaction

*The gain is an estimated amount after deducting incidental costs for the sale.

 *The figures are current assumptions, which have not yet been audited.

(3) Buyer

(4) Transaction schedule

(5) Recognition of exceptional gain
The NSG Group is expected to recognize a gain of 2.9 billion yen as gain on disposal of non-current assets in exceptional items in the consolidated results for the first quarter of the financial year to 31 March 2017.

(6) Financial Impact
The impact of this sale on the NSG Group’s year-end forecast for FY17 (the financial year ending on 31 March 2017) is included in the forecast announced today.

2. Sale of Non-current Assets by MSG

(1) Company profile

(2) Reason for transaction
For the purpose of the NSG Group’s balance sheet enhancement, MSG has resolved to execute sale and lease back contracts of certain non-current assets as below. MSG will continue to use the said assets.

(3) Outline of the transaction

*The gain is an estimated amount after deducting incidental costs for the sale.

 *The figures are current assumptions, which have not yet been audited.

(4) Buyer

(5) Transaction schedule

(6) Recognition of exceptional gain
The NSG Group is expected to recognize a gain of 5.2 billion yen as gain on disposal of non-current assets in exceptional items in the consolidated results for the first half of the financial year to 31 March 2017. Most part of the gain is to be recognized in the first quarter.

(7) Financial Impact
The impact of this sale on the NSG Group’s year-end forecast for FY17 (the financial year ending on 31 March 2017) is included in the forecast announced today.