Japanese glassmaker Asahi Glass is due to announce earnings for the half on 1 August. According to reports, the company is expected to maintain its forecast of 6% sales growth to 1.4 trillion yen and a 5% rise in operating profit to 75 billion yen for the year ending in December.
Its operating profit is set to be around the same as the year-earlier level in the January-June half, avoiding an anticipated 12% decline due to growing sales of glass used in buildings and vehicles.
It is reported that the company has likely logged 34 billion yen ($335 million). Sales apparently dipped 4% to around 630 billion yen.
Its architectural glass business helped hold profit steady. Demand picked up in Europe, in particular, and rising home construction in North America also gave earnings a boost.
Streamlining actions such as job cuts and the partial closure of glass furnaces to reduce overcapacity helped boost profitability.
The company also had a lot of interest in auto glass for luxury vehicles made in Europe, although demand for such material was stagnant in Japan, with automakers cutting production following major earthquakes in  the country’s southwest.
Growing sales of polyvinyl chloride used in water pipes and electrical wires, as well as sodium hydroxide for paper production, supported its chemicals business.
Sales of glass substrates for liquid crystal displays continued to decline, dragging down the electronics segment. Oversupply of the parts from Chinese rivals weighed heavily on prices.
A strong Japanese currency caused profit earned overseas to shrink in conversion. The yen averaged 115 to the dollar during the first half, compared with 120 a year earlier. However, the strong currency has also lightened supply costs in Asia: Materials sourced from China and Taiwan are purchased in local currencies, while the products they are used to make are sold in yen.