Asahi Glass Co. announced annual results for 2016 with consolidated sales of ¥1282 bn.($11.4 bn) and net profit ¥47 bn ($418 mn), resulting in a net profit margin of 3.7%. The sales were lower by 3% as compared to FY15 sales and net profit was higher by 10.6% than last year’s corresponding number.
Both the major business segments of glass and electronics reported lower sales in FY16 as compared to last year, mainly on account of the stronger Yen while the selling prices marginally increased in Europe and North America. The company issued a sales guidance of ¥1350 bn. ($12 bn) with net profit of ¥66 bn ($587 mn) for FY17.
