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AGC (5201) investor relations material

AGC Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary5 Nov, 2025

Executive summary

  • Net sales for the first nine months were ¥1,512.1 billion, down 1.4% year-over-year, with operating profit at ¥94.8 billion, up 0.9% year-over-year, and profit attributable to owners at ¥39.5 billion, a significant increase due to the absence of prior-year losses and impairments.

  • No change in the FY2025 full-year outlook from the August forecast, with net sales expected at ¥2,050 billion and operating profit at ¥120 billion.

  • Profit before tax improved significantly to ¥73.2 billion from a loss of ¥74.4 billion in the prior year, mainly due to the absence of large one-time losses related to the Russian business and prior impairments.

Financial highlights

  • Operating profit rose by ¥0.8 billion year-over-year, driven by improved product mix, pricing, and profit improvement measures, offset by higher raw material and fuel costs.

  • Free cash flow was ¥38.4 billion, with operating cash flow at ¥164.7 billion and investment cash flow at negative ¥126.4 billion.

  • CapEx totaled ¥174.1 billion, depreciation ¥132.6 billion, and R&D expenses ¥44.1 billion.

  • Cash and cash equivalents at period end were ¥99.7 billion, down from ¥107.9 billion at the start of the year.

Outlook and guidance

  • Full-year FY2025 guidance remains unchanged: net sales ¥2,050 billion, operating profit ¥120 billion, profit attributable to owners ¥57 billion, and basic EPS of ¥268.84.

  • Dividend per share for FY2025 is forecast at ¥210, with a stable policy targeting a DOE of about 3%.

  • Operating profit margin expected at 5.9%, ROE at 4.0%.

  • Fourth quarter sales are expected to be on par with Q3, but operating profit is projected to decline due to seasonality and segment-specific factors.

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Frequently asked questions

AGC Inc., formerly known as Asahi Glass Co., Ltd., is a Japanese multinational company specializing in glass, chemicals, electronics, and ceramics. AGC operates across several segments, including architectural glass, automotive glass, display materials, and chemicals, supplying products for industries such as construction, automotive, electronics, and energy. The company also develops advanced materials for high-tech applications, including specialty chemicals and components used in displays and electronics. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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