Asahi Glass Co. (AGC) announced it will raise the selling prices of its architectural glass products marketed in Japan, starting from delivery on September 1. Prices for flat glass products will increase by 15-20 percent, prices for mirror products will increase 10-15 percent and prices for processed glass products for architectural applications 10-20 percent.
The company cites “surging” manufacturing costs for architectural glass products in Japan and “soaring” market prices for fuels and raw materials, combined with the weakening of the Japanese yen, as cause for its price increases.
“In addition, increases in the personnel costs and distribution costs resulted from a lack of manpower are affecting the profitability of the architectural glass business,” AGC notes in a release.
The company says it has been taking “various cost-cutting measures through productivity improvements and streamlining” of its businesses, but a rise in crude oil prices caused by political uncertainty in the Middle East “has made it difficult for AGC to offset the cost increase simply through corporate efforts.”