A recent announcement from Asahi Glass states that it will increase the selling prices of its architectural glass products marketed in Japan, as of 1 September deliveries.
Asahi Glass Co. (AGC) has announced it will up the selling prices of its architectural glass products marketed in Japan, as of 1 September deliveries. Prices for flat glass products will increase by 15 to 20%, prices for mirror products will increase 10 to 15% and prices for processed glass products for architectural applications 10 to 20%.
The company cites ‘surging’ manufacturing costs for architectural glass products in Japan and “soaring” market prices for fuels and raw materials, combined with the weakening of the Japanese yen, as cause for its price increases.
According to a company press release, “…increases in personnel costs and distribution costs resulted from a lack of manpower are affecting the profitability of the architectural glass business.”
The company says it has been taking “various cost-cutting measures through productivity improvements and streamlining” of its businesses, but a rise in crude oil prices caused by political uncertainty in the Middle East “has made it difficult for AGC to offset the cost increase simply through corporate efforts.”