As already announced on September 12, 2007, Asahi Glass Co., Ltd. completed to divest the glass wool and industrial materials operations from Asahi Fiber Glass Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President & CEO: Akira Kitsunezuka) and transfer the entire shares of the newly established company on November 1, 2007. The Company decided the details, which were undecided on September 12, 2007, as follows.
1. Items and Amounts of Assets and Liabilities to be Demerged
The amount of assets transferred to the newly established company is expected to be about 16.4 billion yen, and the amount of liabilities to be about 8.7 billion yen.
2. Change in Transfer Price
The transfer price was revised to 16.19 billion yen (before revision: 16.05 billion yen).
3. Financial Impacts on Business Performance
While the share transfer is expected to give rise to a consolidated extraordinary gain of approximately 8.4 billion yen and a non-consolidated extraordinary gain of 6.2 billion yen in the fiscal year ending December 2007, the impact has already factored into the outlook of operating results.