Asahi Glass to Liquidate a Subsidiary

Date: 1 February 2007
Source: Asahi Glas

Date: 1 February 2007

Asahi Glass Co., Ltd. (the “Company”) has decided to liquidate its subsidiary, as described below. 1.

Reason of Liquidation

The Company has stopped operations of manufacturing CRT glass in Indonesia in July, 2006 as a part of  restructuring plan in light of the decline in demand for CRT glass, and decided to liquidate P.T. Video  Display Glass Indonesia.



2. Profile of P.T. Video Display Glass Indonesia

(1) Location: Cikarang-Bekasi, Indonesia

(2) Representative: Masatomo Hayakawa

(3) Business description: manufacture and sale of CRT glass

(4) Foundation Date: June 1996.

(5) Capital: US$55million

(6) Shareholders (with %):

- Asahi Glass Co., Ltd.: 95%

- Others: 5%

(7) Number of employees: 30 (as of December 31, 2006)



3. Schedule

(1) Date of liquidation resolution by shareholders: February 22, 2007 (plan)

(2) Date of liquidation: Second half of 2008 (plan)



4. Impact on the operational results

The liquidation of the aforementioned subsidiary will have only a negligible effect on the Company’s  non-consolidated and consolidated operating results.
600450 Asahi Glass to Liquidate a Subsidiary glassonweb.com

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