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Consumer Durables

Nippon Sheet Glass Co., Ltd.

Business Summary

Nippon Sheet Glass Co., Ltd. engages in the manufacture and sale of glass and glazing products. It operates through the following businesses: Architectural, Automotive, Technical Glass, and Others. The Architectural business manufactures and sells flat glass, interior and external glazing products, and glass for the solar energy sector. The Automotive business supplies automotive glazing for new vehicles and replacement markets. The Technical Glass business manufactures and sells very thin glass for small displays, lenses, light guides for printers, and glass fiber products that includes battery separators and glass components for engine timing belts. The Others business includes company-wide costs, consolidation adjustments, small businesses not included in the aforementioned segments, and amortization of intangible assets recognized in connection with the acquisition of Pilkinton.The company was founded on November 22, 1918 and is headquartered in Tokyo, Japan.

Financial Highlights

Mar 2022 JPYUSD
Gross Profit125,931M1,120.65M
Operating income18,438M164.07M
Income before tax11,157M99.28M
Net income4,134M36.78M
Diluted EPS23.920.21
Dividends Per Share00
Total Assets946,486M7,798.03M
Total liabilities777,131M6,402.72M
Total equity145,291M1,197.04M
Operating cash flow50,743M451.55M
Currency in JPYCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 598,897M 612,789M 556,178M 499,224M 600,568M
Gross Profit 153,843M 154,056M 124,462M 105,415M 125,931M
Operating income 33,885M 37,625M 17,898M 9,501M 18,438M
Income before tax 22,146M 22,730M -13,549M -17,171M 11,157M
Net income 6,164M 13,287M -18,925M -16,930M 4,134M
EBITDA 63,539M 65,740M 52,939M 45,446M 55,293M
Diluted EPS 38.86 85.14 -235.95 -208.31 23.92
Dividends Per Share 20 20 0 0 0
Total Assets 792,177M 764,159M 767,221M 828,146M 946,486M
Total liabilities 648,462M 631,653M 679,027M 748,384M 777,131M
Total equity 135,192M 123,760M 73,612M 62,937M 145,291M
Operating cash flow 37,224M 32,636M 31,934M 24,453M 50,743M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 5,403.62M 5,525.86M 5,115.41M 4,707.11M 5,344.43M
Gross Profit 1,388.06M 1,389.21M 1,144.73M 993.94M 1,120.65M
Operating income 305.73M 339.28M 164.61M 89.58M 164.07M
Income before tax 199.81M 204.96M -124.61M -161.90M 99.28M
Net income 55.61M 119.81M -174.06M -159.63M 36.78M
EBITDA 573.28M 592.81M 486.90M 428.50M 492.05M
Diluted EPS 0.35 0.76 -2.17 -1.96 0.21
Dividends Per Share 0.18 0.18 0 0 0
Total Assets 7,448.77M 6,903.90M 7,106.85M 7,494.53M 7,798.03M
Total liabilities 6,097.43M 5,706.76M 6,289.90M 6,772.70M 6,402.72M
Total equity 1,271.19M 1,118.12M 681.87M 569.56M 1,197.04M
Operating cash flow 335.85M 294.29M 293.71M 230.56M 451.55M

Valuation Measures

Mar 2022
Operating margin3.07%
Profit margin0.68%

Key executives

  • President, Chief Executive Officer & Director: Shigeki Mori
  • COO, Director & Representative Executive VP: Munehiro Hosonuma
  • Chief Financial Officer: Reiko Kusunose
  • Chief Technology Officer: Michael Robert Greenall
  • Chief Risk & Legal Officer, Manager-Compliance: Koichi Hiyoshi


  • Nomura Asset Management Co., Ltd. (4.5%)
  • Dimensional Fund Advisors LP (3.6%)
  • Sumitomo Mitsui Trust Asset Management Co., Ltd. (3.5%)
  • Nikko Asset Management Co., Ltd. (2.7%)
  • The Vanguard Group, Inc. (2.6%)
  • Daiwa Asset Management Co. Ltd. (2.0%)
  • Nippon Sheet Glass Business Association (1.5%)
  • Saudi Arabian Monetary Agency (Investment Management) (1.4%)
  • Sumitomo Life Insurance Co. (1.0%)
  • Charles Schwab Investment Management, Inc. (0.9%)

Contact Details

  • Website:
  • Address: Sumitomo Fudosan Mita Twin Bldg West, 3-5-27 Mita, Tokyo, 108-6321, Japan
  • Phone: +81.3.5443.9523

Related Companies

  • Nippon Sheet Glass Co. Ltd. /2 Subs/
  • NSG Glass North America, Inc.
  • Nippon Sheet Glass Co. Ltd. /Battery Separator Business/
  • Nippon Sheet Glass Ireland Ltd.
  • Pilkington Glass of Canada Ltd.
  • NSG Asia Pte Ltd.
  • Nippon Sheet Glass Business Association
  • NSG Vietnam Glass Industries Ltd.
  • Pilkington Automotive India Pvt Ltd.
  • Shanghai Sheet Glass Machinery & Electrnc Int'l Trading Co.
  • Tianjin NSG Safety Glass Co. Ltd.
  • Suzhou NSG Electronics Co. Ltd.
  • NSG (Shanghai) Ltd.
  • Pilkington Brothers Superannuation Trustee Ltd.
  • Pilkington Properties Ltd.
  • L.N. Safety Glass SA de CV (California)
  • Pilkington Benelux Agr BV
  • OKI Glass Co. Ltd.
  • NSG Building Products Co. Ltd.
  • Nishinihon ITA Glass Center KK
  • NSG D&G System Co. Ltd.
  • Nippon Mukishoji Co. Ltd.
  • Chubu Rarts Co. Ltd.
  • Nissho Kosan Co. Ltd.
  • Kagami Crystal Co. Ltd.
  • NSG Interior KK
  • Nihon Itagarasu Minamikyushu Hambai KK
  • Bauglasindustrie GmbH
  • Pilkington Automotive Deutschland GmbH
  • Pilkington Prescot Ireland


  • Compagnie de Saint-Gobain SA
  • Research Frontiers Incorporated
  • KCC GLASS Corporation
Last Updated on 27 Jan, 2023

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