Jul 31, 2020 / NTS GMT
Shinji Miyaji - AGC Inc. - Senior EVP, CFO, CCO, GM of Corporate Planning General Division & Director
This is Shinji Miyaji, the CFO. Please turn to Slide 4. First, the key points of today's briefing. In the first 6 months, net sales decreased by JPY 82.9 billion year-on-year at JPY 654.5 billion, and operating profit declined by JPY 20.9 billion at JPY 20.6 billion. As an impact of COVID-19, sales were down JPY 99 billion, and operating income was down JPY 36.5 billion.
Despite strong performance of electronic materials, LCD glass substrates and life science, overall sales and profits decreased year-on-year due to a decline in demand for automotive glass and architectural glass, which were greatly affected by COVID-19 and lower selling prices.
Regarding the full year forecast that remained undetermined, we now forecast sales to be JPY 1.35 trillion, down JPY 168 billion year-on-year and operating profit to be JPY 40 billion, down JPY 61.6 billion. The impact of COVID-19 is expected to be JPY 217 billion on sales and JPY 87.5 billion on operating profit, with serious effect projected on
Q2 2020 AGC Inc Earnings Call Transcript
Feb 12, 2024
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