Nippon Sheet Glass to sell properties

Nippon Sheet Glass Co. announced at the end of September 2006 that it has decided to sell its headquarters office building in Tokyo to Sumitomo Realty & Development Co. Ltd. as part of efforts to stre…

Nippon Sheet Glass Co. announced at the end of September 2006 that it has decided to sell its headquarters office building in Tokyo to Sumitomo Realty & Development Co. Ltd. as part of efforts to strengthen financial position. The company will obtain about JPY 4.85 billion for this sale, and has said it will move its headquarter operations into another rented building nearby. Nippon also said it will sell a company residence building in Kanagawa Prefecture to a supermarket operator for JPY990 million. Nippon Sheet Glass will book an extraordinary profit of JPY 3.24 billion from the sales in its year to March 2007 accounts. (1 USD = 17.50 JPY)