Asahi Glass Announces Change in Accounting Term

Date: 20 May 2003
Source: Asahi Glass

Date: 20 May 2003

Asahi Glass Co., Ltd. (hereinafter “the Company” announces that it decided at a meeting of its board of directors convened on May 15, 2003 to submit its proposal to change the accounting term as described below, to the general shareholder meeting slated for June 27, 2003.1.

Rationale for the change

Standardization of accounting term for the Company and the Group firms to disclose business results consistent with one another, is aimed at fair, appropriate disclosure of management information (such as quarterly financial results) to further improve transparency of the corporate management. In addition, it is supposed to promote clearer positioning of the Company as a global corporation, by making its business year conform to those of major corporations overseas.

2. Changing the date of account closing

At present: March 31 of every year. After the change: December 31 of every year. The 79th fiscal year, a transitional period for the change in the accounting term, will cover nine months from April 1, 2003 to December 31, 2003.

3. Future outlook (Earnings forecast for the 79th term)

- Consolidated earnings forecast
600450 Asahi Glass Announces Change in Accounting Term glassonweb.com

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