Asahi Glass Corporation announced its financial results for the first quarter ended March 31, 2018. Net sales for Q1 2018 were ¥372.5 billion ($3.40 billion), an increase of 11.1%, compared to ¥335.3 billion ($3.06 billion) in Q1 2107. Net profit for Q1 2018 was ¥24.8 billion ($230 million), an increase of 24.2%, compared to ¥19.9 billion ($180 million) in Q1 2017.
In Q1 2018, Asahi Glass Corporation made significant growth in its chemicals, ceramics and glass business segments but the electronics segment saw decline in sales compared to Q1 2017. The electronics segment saw a decline in sales from ¥60.6 billion ($550 million) to ¥58.8 billion ($540 million), a decrease of 2.9%.
Looking forward to outlook FY2018, Asahi forecasts net sales of ¥1550.0 billion ($14.15 billion), an increase of 5.9% and net profit of ¥77.0 billion ($700 million), an increase of 11.2% on year on year basis.
