Fundamental Measures Toward a New NSG Group
Nippon Sheet Glass Company,Limited and the NSG Group
UK subsidiaries; architectural and automotive glass businesses; and the high-performance glass business (Creative Technology)
A deteriorating business environment due to the stagnation of the European economy, rising raw material prices and US tariffs, along with declining profitability and excessive leverage
Related procedures
Shareholder approval, a third-party allotment of shares, a share consolidation, approval from the relevant authorities, delisting and conversion into a wholly owned subsidiary
Relevant authorities (specific names are Not disclosed)
Company response
A special committee was established and an advisory report was obtained.
Implementation of fundamental cost-improvement measures involving one-off expenditure, including a review of production sites; establishment of the Value Creation Office (VCO); placement of each business unit and key implementation functions under the VCO; and the early establishment of a structure enabling the VCO to manage and execute these measures with appropriate authority
Cumulative net loss attributable to owners of the parent of ¥37 billion over the past 3 years. Following the transaction, the company plans to reduce existing interest-bearing debt by ¥140 billion. The accounting classification for the impact on profit or loss is Not disclosed.
The company plans to carry out the third-party allotment of shares, share consolidation, quasi-debt-to-equity swap, delisting and conversion into a wholly owned subsidiary in the second half of the fiscal year ending March 2027 (予定). Following the transaction, with support from the Apollo Fund, it will pursue business reform, debt reduction and strategic investment in growth areas.
| Item | Details |
|---|---|
| Event name | Fundamental Measures Toward a New NSG Group |
| Date of occurrence | 24 March 2026 (the date on which the measures were announced and implementation was decided) |
| Subject Entity | Nippon Sheet Glass Company,Limited and the NSG Group |
| Target Locations / Products | UK subsidiaries; architectural and automotive glass businesses; and the high-performance glass business (Creative Technology) |
| Cause | A deteriorating business environment due to the stagnation of the European economy, rising raw material prices and US tariffs, along with declining profitability and excessive leverage |
| Amount of Impact on Business Performance | Cumulative net loss attributable to owners of the parent of ¥37 billion over the past 3 years. Following the transaction, the company plans to reduce existing interest-bearing debt by ¥140 billion. The accounting classification for the impact on profit or loss is Not disclosed. |
| Type of litigation or proceeding | Shareholder approval, a third-party allotment of shares, a share consolidation, approval from the relevant authorities, delisting and conversion into a wholly owned subsidiary |
| Court or authority | Relevant authorities (specific names are Not disclosed) |
| Investigation structure | A special committee was established and an advisory report was obtained. |
| Measures to prevent recurrence | Implementation of fundamental cost-improvement measures involving one-off expenditure, including a review of production sites; establishment of the Value Creation Office (VCO); placement of each business unit and key implementation functions under the VCO; and the early establishment of a structure enabling the VCO to manage and execute these measures with appropriate authority |
| Outlook | The company plans to carry out the third-party allotment of shares, share consolidation, quasi-debt-to-equity swap, delisting and conversion into a wholly owned subsidiary in the second half of the fiscal year ending March 2027 (予定). Following the transaction, with support from the Apollo Fund, it will pursue business reform, debt reduction and strategic investment in growth areas. |
Items this document does not state (14)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company cites a deteriorating business environment caused by the stagnation of the European economy, rising raw material prices and US tariffs, as well as cumulative losses of ¥37 billion over the past 3 years and interest-bearing debt of approximately ¥570 billion, which has increased its interest burden. It explains that relying solely on self-help efforts would require an extended period to rebuild profitability and its financial position, making these measures necessary.