Agc Inc. · TSE:5201
Agc — Q3 FY2026 Earnings Presentation
42 slides from Agc's earnings presentation, Nov 5, 2026
Slide 1: Financial Results for the Nine Months ended September 30, FY2026
Financial Results for the Nine Months ended September 30, FY2026 November 5, 2026 ©AGC Inc. 1
Slide 2: Contents
Contents Financial Results for the Nine p. 4 Months ended September 30, FY2026 1. Highlights of the Financial Results p. 5 2. Status of Segments p. 13 Outlook for FY2026 p. 20 Appendix p. 29 ©AGC Inc. 2
Slide 3: Key Points of 3Q FY2026 Results and FY2026 Outlook
Key Points of 3Q FY2026 Results (cumulative) and FY2026 Outlook Financial Results for 3Q FY2026 (cumulative) ◼ Year-on-year, net sales increased by 150.5 billion JPY and operating profit decreased by 1.9 billion JPY. ⚫ Lower profit due to higher raw material and fuel prices and increased manufacturi
Slide 4: Financial Results for the Nine Months ended September 30, FY2026
Financial Results for the Nine Months ended September 30, FY2026 ©AGC Inc. 4
Slide 5: 1. Highlights of the Financial Results
1. Highlights of the Financial Results ©AGC Inc. 5
Slide 6: Highlights of the Financial Results for 3Q FY2026 (cumulative)
Highlights of the Financial Results for 3Q FY2026 (cumulative) Main factors in the change （100 million JPY） Net sales increase factors FY2025 FY2026 Change ◼ Impact of yen depreciation 1-3Q Total 1-3Q Total ◼ Higher shipments in Chemicals and Electronic Materials ◼ Pricing policies effect in Integra
Slide 7: YoY Performance Comparison by Business Segment
YoY Performance Comparison by Business Segment (100 million JPY) FY2025 FY2026 Change 1-3Q Total 1-3Q Total (a) (b) (b)-(a) Net sales Operating profit Net sales Operating profit Net sales Operating profit Architectural Glass 3,208 100 3,372 94 + 164 -6 Automotive 3,856 234 4,176 154 + 320 - 80 Elect
Slide 8: Variance Analysis on OP
Variance Analysis on OP 1.9 billion JPY down from last year 2.0 billion JPY up from last quarter 1-3Q FY2026 vs 1-3Q FY2025 3Q FY2026 vs 2Q FY2026 （100 million JPY） （100 million JPY） (+) Favorable impact of yen depreciation (+) Higher shipment volumes (Chemicals and Electronic Materials) (+) Higher
Slide 9: Other Income/Expenses - main items
Other Income/Expenses - main items ◼ Implemented profitability improvement measures, with related income and expenses recorded mainly in Q3. Measures Purpose / Background Financial Impact (100 million JPY) Workforce optimization and Architectural Profitability deterioration due to Restructuring expe
Slide 10: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (100 million JPY) 2025/12/31 2026/9/30 Change Cash and cash equivalents 947 928 - 19 Inventories 4,654 4,954 + 300 Property, plant Property, plant and equipment, and equipment, 17,604 17,097 - 508 Goodwill Goodwill and and Intangible Intangible assets ass
Slide 11: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows (100 million JPY) FY2025 FY2026 1-3Q Total 1-3Q Total Profit before tax 732 704 Depreciation and amortization 1,326 1,474 Increase(decrease) in working capital - 70 - 571 Others - 340 - 107 Cash flows from operating activities 1,647 1,501 Cash flows from investin
Slide 12: CAPEX, Depreciation and R&D
CAPEX, Depreciation and R&D (100 million JPY) FY2025 FY2026 FY2025 FY2026 FY2025 FY2026 1-3Q Total 1-3Q Total 1-3Q Total 1-3Q Total 1-3Q Total 1-3Q Total CAPEX 1,741 1,398 Depreciation 1,326 1,474 R&D 441 430 Architectural Architectural Architectural Glass Glass 229 236 Architectural Glass Glass 192
Slide 13: 2. Status of Segments
2. Status of Segments ©AGC Inc. 13
Slide 14: Architectural Glass Segment
Architectural Glass Segment FY2025 FY2026 Change Variance Analysis on OP 1-3Q Total 1-3Q Total Net sales 3,208 3,372 + 164 * （100 million JPY） Asia 1,097 1,081 - 16 Europe & Americas 2,092 2,279 + 187 (Inter-segment) 19 12 -7 Operating profit 100 94 -6 * FOREX impact: +264, (100 million JPY) Change
Slide 15: Automotive Segment
Automotive Segment FY2025 FY2026 Change Variance Analysis on OP 1-3Q Total 1-3Q Total Net sales 3,856 4,176 + 320 * （100 million JPY） Automotive 3,854 4,174 + 320 (Inter-segment) 2 1 -0 Operating profit 234 154 - 80 * FOREX impact: +249, (100 million JPY) Change in the Scope of Consolidation: No imp
Slide 16: Electronics Segment
Electronics Segment FY2025 FY2026 Change Variance Analysis on OP 1-3Q Total 1-3Q Total Net sales 2,597 2,708 + 111 * （100 million JPY） Display 1,362 1,345 - 16 Electronic Materials 1,222 1,345 + 123 (Inter-segment) 13 18 +5 Operating profit 360 339 - 21 * FOREX impact: +49, (100 million JPY) Change
Slide 17: Chemicals Segment
Chemicals Segment FY2025 FY2026 Change Variance Analysis on OP 1-3Q Total 1-3Q Total Net sales 4,313 5,157 + 844 * （100 million JPY） Integrated Chemicals 2,208 2,564 + 356 Essential Chemicals - SEA 2,074 2,581 + 507 (Inter-segment) 31 12 - 19 Operating profit 397 437 + 41 * FOREX impact: +267, (100
Slide 18: Life Science Segment
Life Science Segment FY2025 FY2026 Change Variance Analysis on OP 1-3Q Total 1-3Q Total Net sales 961 1,002 + 41 * （100 million JPY） Life Science 941 980 + 39 0 (Inter-segment) 20 22 +1 Operating profit -162 -126 + 36 * FOREX impact: +76, (100 million JPY) Change in the Scope of Consolidation: No im
Slide 19: Performance Contribution of Strategic Businesses
Performance Contribution of Strategic Businesses ◼ Overall net sales and operating profit improved YoY with increased sales in all strategic businesses. ◼ The increase in operating profit was driven mainly by Performance Chemicals and Electronics Main products & businesses Performance Trend of Strat
Slide 20: Outlook for FY2026
Outlook for FY2026 ©AGC Inc. 20
Slide 21: Outlook for FY2026
Outlook for FY2026 ◼ Operating profit forecast revised downward due to weaker-than-expected performance in Automotive, Essential Chemicals – SEA, Architectural Glass, and Life Science (100 million JPY) FY2026e FY2026e FY2025 (As of Nov. 5) (As of Feb. 6) Net sales 20,588 22,000 22,000 Operating prof
Slide 22: Outlook Breakdown by Segment (Net Sales and Operating Profit)
Outlook Breakdown by Segment (Net Sales and Operating Profit) (100 million JPY) FY2026e (b) FY2026e (c) FY2025 (a) Change (b)-(a) Change (b)-(c) (As of Nov. 5) (As of Feb. 6) Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operati
Slide 23: Breakdown of Revised Operating Profit Forecast by Segment
Breakdown of Revised Operating Profit Forecast by Segment [Main Factors Causing Changes [Earnings Improvement from Initial Forecast Results] Measures] ◼ Soaring raw material and fuel Chemicals prices in Essential Chemicals- SEA ◼ Essential Chemicals –SEA : AGC Group ◼ Increase in shipments and -10 c
Slide 24: Outlook by Business Segment (1)
Outlook by Business Segment (1) Outlook for 4Q FY2026 (vs 3Q FY2026) Architectural Glass Automotive Electronics Asia ◼ Shipments are expected to Display decrease due to seasonal factors. ◼ Shipments are expected to increase ◼ Shipments of LCD glass substrates are due to seasonal factors. ◼ Product m
Slide 25: Outlook by Business Segment (2)
Outlook by Business Segment (2) Outlook for 4Q FY2026 (vs 3Q FY2026) Chemicals Life Science Integrated Chemicals ◼ In the Small Molecule Pharmaceuticals and ◼ Fluoropolymer shipments will decrease Agrochemicals CDMO, shipments due to the concentration of shipments are expected to increase due to in
Slide 26: Sales and Operating Profit Outlook of Strategic Businesses
Sales and Operating Profit Outlook of Strategic Businesses ◼ Performance Chemicals and Electronics exceeded initial forecasts and operating profit forecast revised upward Performance Trend of Strategic Businesses Change in Net Sales from FY2025 to FY2026 (100 Million JPY) Shipments of high-performan
Slide 27: Outlook of CAPEX, Depreciation and R&D
Outlook of CAPEX, Depreciation and R&D ◼ Large-scale capacity expansions were completed by 2025, reducing CAPEX in 2026. ◼ CAPEX and depreciation up vs. initial forecast on higher construction costs, weaker yen, etc. (100 million JPY) FY2025 FY2026e FY2025 FY2026e FY2025 FY2026e CAPEX 2,513 2,050 De
Slide 28: Shareholder Return Policy
Shareholder Return Policy (From materials released in February 2026) ◼ Stable dividend with a target DOE* of approx. 3% ◼ The dividend per share for 2026 will be maintained at the 2025 level. ◼ From 2027, we will consider reviewing our shareholder returns policy in line with business recovery. Divid
Slide 29: Appendix
AGC Your Dreams, Our Challenge ©AGC Inc.
Slide 30: Sensitivity to FOREX / Market Impacts
Sensitivity to FOREX / Market Impacts (From materials released in February 2026) Impact on Operating Profit Exchange Crude Chemicals rate oil market 1 Caustic soda 500 million JPY* gain 260 million JPY* loss $1.3 million gain if the if per barrel price increased International market risen by $1 if y
Slide 31: Variance Analysis on OP (3Q FY2026 vs 3Q FY2025)
Variance Analysis on OP (3Q FY2026 vs 3Q FY2025) 12.6 billion JPY down from last year （100 million JPY） ©AGC Inc. 31
Slide 32: YoY Performance Comparison by Regional Segments
YoY Performance Comparison by Regional Segments (100 million JPY) FY2025 FY2026 Change 1-3Q Total 1-3Q Total Net sales 15,121 16,626 + 1,505 FOREX impact Japan & Asia 9,512 10,457 + 945 +911 Americas 1,829 1,972 + 142 Change in the scope Europe 3,780 4,197 + 418 of consolidation Operating profit 948
Slide 33: YoY Net Sales Comparison by Regional Segment
YoY Net Sales Comparison by Regional Segment (100 million JPY) Japan& Asia Americas Europe Inter-segment Total 3Q FY2026 370 87 619 4 1,079 Architectural Glass 3Q FY2025 390 78 626 5 1,100 3Q FY2026 663 300 409 0 1,373 Automotive 3Q FY2025 643 303 352 1 1,299 3Q FY2026 826 130 3 6 965 Electronics 3Q
Slide 34: YoY Net Sales Comparison by Regional Segment (cumulative)
YoY Net Sales Comparison by Regional Segment (cumulative) (100 million JPY) Japan& Asia Americas Europe Inter-segment Total 1-3Q FY2026 1,081 232 2,047 12 3,372 Architectural Glass 1-3Q FY2025 1,097 222 1,870 19 3,208 1-3Q FY2026 1,992 922 1,260 1 4,176 Automotive 1-3Q FY2025 1,913 863 1,079 2 3,856
Slide 35: Performance by Business Segment (1)
Performance by Business Segment (1) （100 million JPY） Architectural Glass 1Q FY2025 2Q FY2025 3Q FY2025 4Q FY2025 1Q FY2026 2Q FY2026 3Q FY2026 Net sales 1,040 1,068 1,100 1,203 1,120 1,173 1,079 Asia 346 361 390 438 345 367 370 Europe & Americas 685 703 705 761 773 801 706 (Inter-Segment) 10 4 5 4
Slide 36: Performance by Business Segment (2)
Performance by Business Segment (2) （100 million JPY） Chemicals 1Q FY2025 2Q FY2025 3Q FY2025 4Q FY2025 1Q FY2026 2Q FY2026 3Q FY2026 Net sales 1,441 1,417 1,455 1,529 1,572 1,748 1,837 Integrated Chemicals 717 741 750 812 784 872 907 Essential Chemicals - SEA 712 666 695 701 784 872 925 (Inter-Segm
Slide 37: Progress of performance by segment
Progress of performance by segment (100 million JPY) FY2026 FY2026e (b) Progress (a)/(b) 1-3Q Total (a) As of Nov. 5 Net sales Operating profit Net sales Operating profit Net sales Operating profit Architectural Glass 3,372 94 4,600 110 73% 86% Automotive 4,176 154 5,500 170 76% 91% Electronics 2,70
Slide 38: Market Trend
Market Trend Trend of shipment and price 2025 2026 1Q 2Q 3Q 4Q 1Q 2Q 3Q YoY comparision Architectural Japan & Asia shipment -mid single-digit -mid single-digit flat +low 10% range +low 10% range +high single-digit -mid single-digit （ AGC） price -mid single-digit -high single-digit -mid 10% range -lo
Slide 39: ROCE and EBITDA by Business Segment
ROCE and EBITDA by Business Segment （100 million JPY） Operating profit EBITDA* ROCE Operating assets FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 Architectural Glass 164 173 413 435 5.5% 5.2% 3,000 3,300 Automotive 139 293 464 611 4.2% 8.5% 3,350 3,450 Electronics 545 475 1,076 971 9.2% 8
Slide 40: Financial Index
Financial Index IFRS 21/12 22/12 23/12 24/12 25/12 Net sales Million JPY 1,697,383 2,035,874 2,019,254 2,067,603 2,058,832 Operating profit Million JPY 206,168 183,942 128,779 125,835 127,465 OP margin % 12.1 9.0 6.4 6.1 6.2 Profit for the year attributable to owners of the Million JPY 123,840 - 3,1
Slide 41: Business Portfolio Optimization to Improve Profitability
Business Portfolio Optimization to Improve Profitability Automotive Life Science Chemicals Sale of the automotive Sale of Colorado Sites Ceasing manufacturing at the replacement glass installation business in Europe (Biopharmaceutical CDMO) Integrated Chemicals UK site Overview Overview Overview Loc
Slide 42: Disclaimer
Disclaimer: ◼ This material is solely for information purposes and should not be construed as a solicitation. Although this material (including the financial projections) has been prepared using information we currently believe reliable, AGC Inc. does not take responsibility for any errors and omiss