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The hottest Japanese Asahi will sell the equity of

2022-08-24

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Asahi Glass Co. (5201. To) said on Wednesday (July 8) that affected by the decline in product demand, the company plans to sell its wholly-owned subsidiary engaged in the production of TV display glass in China

Asahi's subsidiary said that the sale transaction would be completed in October, and the buyer was a Chinese funded enterprise

the subsidiary of Asahi nitrate said in a public accountability report that the transaction is expected to cause a special loss of 11billion yen to the company, which has been included in its previously announced earnings forecast for the fiscal year ended December this year

Asahi nitrate subsidiary is a manufacturer of tube glass after the completion of cathode ray experiment

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