AGC (AGC Inc.; Headquarters: Tokyo; President: Yoshinori Hirai) hereby announces that it has reached an agreement with Sumitomo Bakelite (Sumitomo Bakelite Co., Ltd.; Headquarters : Tokyo, President: Shinichi Kajiya) to transfer its polycarbonate business.

Under its AGC plus-2026 medium-term management plan, the AGC Group is promoting "ambidextrous management" in its aim to build a business portfolio that is resilient to market fluctuations and has high asset efficiency, growth potential, and carbon efficiency.

AGC's polycarbonate business, which has a history of more than 30 years, has responded to the needs of its customers by offering an extensive lineup in a wide range of fields that include industry and electronics in addition to building materials. Among these, TWINCARBO™ and polycarbonate sheet for optical applications has been highly regarded in the market.

AGC has determined that for the sake of the further growth and development of this business, its best course of action would be to transfer the business to Sumitomo Bakelite, which possesses advanced technological capabilities in said domains and the ability to effectively utilize AGC's assets, etc. Sumitomo Bakelite intends to continue selling various products. It will keep providing high-quality products to customers while leveraging its know-how and strengths.

Note that impact of this matter on AGC's consolidated financial results will be immaterial. 

＜Reference＞
１．Overview of Business to Be Transferred
　Manufacture and sale of polycarbonate products for building materials, industry, and electronics fields

２．Overview of Transferee