Asahi Glass to sell two land lots

Asahi Glass Co., Japan“s largest comprehensive glassmaker, said in mid-July that it will sell two land lots for JPY 8.25 billion to strengthen its management base.
Asahi Glass said it will sell a lo…

Asahi Glass Co., Japan“s largest comprehensive glassmaker, said in mid-July that it will sell two land lots for JPY 8.25 billion to strengthen its management base. Asahi Glass said it will sell a lot of 2,198 sq. m. in Tokyo“s Shibuya Ward to major contractor Kajima Corp. for JPY 2.75 billion with capital gains of JPY 2.38 billion. Asahi Glass said that it will also sell another lot, also in Shibuya Ward, of 6,157 sq. m. to building maintenance company Riviera Facilities Ltd. for JPY 5.5 billion with capital gains of JPY 4.53 billion. The deals are expected to be completed in October 2002, Asahi Glass said in a news release. Asahi Glass said it will make no revisions to its earnings projections for the business year to March 2003, as the capital gains have been factored into its already-announced earnings projections.