NSG Sells Non-Current Assets to Finance, Leasing Company

Nippon Sheet Glass Co. Ltd. (NSG) announced it has agreed to the sale of non-current assets in Japan and a lease-back agreement.

“For the purpose of the balance sheet enhancement, [NSG] signed a contract of sale of non-current assets and a lease contract (lease-back agreement) with the Sumitomo Mitsui Finance & Leasing Co. Ltd., and [NSG] continues to use the assets,” a release from the company reads.

According to NSG, the resolution date and contract date of the sale, which was for $44.9 million, was today. The delivery date is September 30.

“The impact of this sale upon the financial forecast for the year to [March 31, 2015] is not material,” the release reads.