Architectural glass sales for Nippon Sheet Glass (NSG) continued to improve in North America, thanks largely to increases in private residential construction, according to the company’s quarterly financial statement released on Thursday.
North America, which represents 10 percent of NSG’s architectural sales, saw revenues and profits improve from the previous year. Volumes improved due to strengthening domestic demand, while prices remained stable, according to the release.
Overall, NSG revenues were up nearly 15 percent from this same time a year ago, although sales in Europe remain low due to the depressed construction industry there, according to the statement. Market conditions in Southeast Asia improved with increased domestic glass sales, while revenues in Japan – representing 30 percent of architectural sales – were slightly ahead of the previous year.
Architectural glass sales represent 38 percent of NSG Group sales in the first quarter, including the manufacturing and sale of flat glass and various interior and exterior glazing products within the commercial and residential markets according to the release. It also includes glass for the Solar Energy sector. The Architectural business recorded revenues of ¥ 57.655 million (nearly $597.5 million USD) and an operating profit of ¥ 322 million (nearly $3.38 million USD).
The company said its overall architectural and automotive markets remained stable and partly attributed higher revenues to a weaker Japanese yen.