AGC Group Records Mixed Results in First Quarter

Asahi Glass Co. (AGC), based in Japan, posted net sales of $2.84 billion in the first quarter of 2016, down 5.4 percent from the previous year’s first quarter.

Net sales from the company’s glass operations for the period, including architectural and automotive glass, were just under $1.6 billion and up 1.1 percent from 2015.

“In the flat glass business, shipments of architectural glass in Japan and North America remained robust,” a report from the company reads. “In Europe, demand increased in Western and Central Europe, but remained sluggish in Eastern Europe due to the effects of a deterioration of the economic environment. Sales of architectural glass decreased on a year-on-year basis, mainly affected by the weak yen although sales prices of architectural glass products increased in many regions.”

According to the company, the Japanese economy showed a gradual upward trend, business conditions in Europe continued their gradual recovery, and the economy in the United States was making a stable recovery with consumer spending growth. However, it saw slowdown in economic growth in China and other emerging markets.

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