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Asahi Glass group net profit dives 23.3% in 2005 business year+
[February 15, 2006]

Asahi Glass group net profit dives 23.3% in 2005 business year+

(Japan Economic Newswire Via Thomson Dialog NewsEdge)TOKYO, Feb. 15_(Kyodo) _ Asahi Glass Co. said Wednesday its group net profit for the 2005 business year to Dec. 31 fell 23.3 percent to 60.01 billion yen due to such factors as weak demand for glass used in color televisions and higher energy costs.

In an earnings report for the January-December period, the leading glass maker said its group pretax profit also dipped 12.4 percent to 118.88 billion yen despite a 3.5 percent rise in sales to 1,526.66 billion yen.

The company said consolidated sales received a boost from growing global markets for glass substrates for use in flat-panel displays and increased sales of value-added products such as chemicals, construction glass and automotive glass.

But group profitability was adversely affected by a fall in the price of cathode-ray tubes used in televisions and sluggish sales of electronics materials, among other factors.

Asahi Glass said it will pay a per-share dividend of 15 yen for all of the 2005 business year, including an interim dividend of 7.50 yen already paid.

For the year to Dec. 31, 2006, the company forecast its group net and pretax profits will amount to 80 billion yen and 136 billion yen, respectively, on projected sales of 1.6 trillion yen.

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