Nippon Sheet Glass : FY2026/3 3rd Quarter Results Key Points [

6 February 2026 Nippon Sheet Glass Company, Limited

• Revenue and OP largely increase for cumulative and Q3 mainly due to better European Architectural glass business

• Slower European market recovery and some uncertainty elsewhere due to US tariff policy. Taking any appropriate actions continuously across the Group in a challenging environment to achieve full-year forecast

• Gaps to the financial targets for FY2027/3 although improvements from the previous year under the Medium Term Plan “2030 Vision: Shift the Phase”.

1. Financial Year ending 31 March 2026 Quarter 3 Results

   • Group Q3 revenue was JPY 219.8 bn (+12.3 bn, +5.9% YoY), and operating profit largely improved to JPY 6.5 bn (+5.9 bn, approx. 11.3x YoY)

   • The cumulative revenue was JPY 640.6 bn (+10.6 bn, +1.7% YoY) and operating profit was JPY 18.5 bn (+7.7 bn, +71.3% YoY), both improved from the previous year. Revenue increased with Automotive glass business in Europe and North America, and operating profit increased with significant improvement in European Architectural glass business from the previous year

   • The taxation charge of JPY 4.9 bn (JPY 3.1 bn in PY), leading to loss for the period of JPY 4.1 bn (+5.2 bn improved YoY) and net loss* of JPY 5.1 bn (+4.9 bn improved YoY) while recording profit before taxation

   • Free cash flow improved to negative JPY 32.2 bn (+14.2 bn YoY), reflecting seasonal working capital movement. Shareholders’ equity ratio increased to 11.6% (+1.1pt vs PY end). Interest-bearing debt increased to JPY 570.2 bn (+45.4 bn vs PY end)

     *Profit/(loss) attributable to owners of the parent

     Architectural Glass	Revenue decrease YoY while significant OP increase mainly due to better sales price and cost in Europe with production cessations. Demand for solar energy glass decreasing in Asia reflecting customer’s production adjustments arising from US tariff policy, but improving in Q3. Continuous robust demand in US
     Automotive Glass	Revenue and OP increase from PY. Sales price improvement mainly in AGR although sales volume decrease. In Europe, better in sales mix with expansion of value-added products. In Japan, slow sales volumes and prices. In North America, better sales prices for AGR while temporarily unfavorable production efficiency for OE continued. Production schedules adjustments on track in Europe
     Technical Glass	Cumulative revenue and OP decrease YoY impacted by sales mix in some products. OP improvement in Q3 with sales mix improvement as planned

2. Forecast for Financial Year ending 31 March 2026

   • Full year forecast remaining unchanged. Taking further actions across the Group to improve profitability in a challenging environment

   • Expecting a gradual market recovery in Europe but slower than expected. Some uncertainty elsewhere due to US tariff policy

   • Assuming JPY continues to be weaker than original forecast and increase of energy and material costs in certain businesses and regions with continuous costs rise including labor reflecting inflation

   • Review of taxation assets ongoing which may benefit Q4 tax charge

     *Profit/(loss) attributable to owners of the parent

3. Update of “2030 Vision: Shift the Phase” - Financial Targets

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