Nippon Sheet sees solar cell glass sales on the increase

Nippon Sheet Glass Co.“s sales of solar cell glass increased to about JPY 15 billion (USD 161 million) in the April-September period, a 15% increase from the same period in 2008.
The increase is due…

Nippon Sheet Glass Co.“s sales of solar cell glass increased to about JPY 15 billion (USD 161 million) in the April-September period, a 15% increase from the same period in 2008. The increase is due to higher solar cell demand in North America, which is boosting sales of glass substrates for thin-film solar cells. Demand in Europe, on the other hand, has dropped due to reductions in government subsidies, but will probably be offset by growth in Japan and North America. According to Nippon, its solar cell glass sales in the April-June quarter jumped 17% year over year to about JPY 7 billion. Nippon Sheet Glass has a 70% share of the global market for thin-film solar cell glass substrates, which accounts for slightly more than 5% of group revenue, and an operating profit margin that is calculated at about 20%. For the year ending March 2010, Nippon expects to be JPY 30 billion into the red on an operating basis caused by slow sales of construction glass, while the solar cell glass business, will probably be several billion yen in the black.