**AGC Inc. Q3 FY2025 Earnings Briefing**
Welcome to the earnings briefing of AGC Inc. for the third quarter of fiscal year 2025. I’m Kazumi Tamaki, General Manager of Corporate Communications and Investor Relations, and I’ll be serving as moderator for today’s session.
Joining me are Shinji Miyaji, Executive Vice President, Executive Officer, and CFO; as well as Tomoyuki Shiokawa, Executive Officer and General Manager of the Finance and Control Division.
The briefing will begin with an overview of our financial results for Q3, presented by CFO Miyaji. We will follow this with a Q&A session. The event is scheduled to finish at 3:45 p.m. Thank you in advance for your cooperation.
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### Financial Highlights
**Shinji Miyaji, Senior EVP, CFO, CCO & Director**
Thank you for joining us. Please refer to Page 3 of the presentation for the highlights.
For the first nine months of FY2025, net sales totaled JPY 1,512.1 billion, a decrease of JPY 22.1 billion year-on-year.
There were several positive factors:
– Improved product mix and pricing policies for automotive glass
– Increased shipments and favorable pricing for Performance Chemicals
– Strong pricing policies for architectural glass in Europe and the Americas
However, these were partially offset by negative influences, including:
– Decline in PVC prices
– Reduced shipments of EUV photo blanks and European architectural glass
– Impact from last year’s Russian business transfer
Operating profit reached JPY 94.8 billion, an increase of JPY 0.8 billion. This improvement was driven by effective profit measures in the displays segment and other areas, despite facing higher raw materials and fuel costs and the aforementioned headwinds.
Net income attributable to the owners of the parent company increased by JPY 145.9 billion to JPY 39.5 billion.
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Thank you for your attention. We now invite your questions in the Q&A session.
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