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Integrated Report 2019 1 NSG GROUP TIMELINE —Accelerating Globalization and VA Transformation—

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Integrated Report 2019 1 NSG GROUP TIMELINE —Accelerating Globalization and VA Transformation— 2019 INTEGRATED REPORT FISCAL YEAR ENDED MARCH 31 2019 Nippon Sheet Glass Company, Limited NSG Group is one of the world’s largest manufacturers of glass and glazing products for the Architectural, Automotive and Technical Glass sectors. With around 27,000 employees, NSG Group has principal operations in approximately 30 countries around the world and sales in over 100 countries. Our Vision NSG Group announced its new management principles “Our Vision” at the company’s 100th anniversary in November 2018. "Our Vision" comprises Mission (our core purpose), Aspiration (our desired future position) and Core Values (the basis on which we work and conduct ourselves). MISSION Changing our surroundings, improving our world ASPIRATION CORE VALUES • Respect others and unleash Through innovation, their potential becoming the most • Exemplify trust and integrity • Ensure efforts to serve society trusted partner • Take the initiative in all industries • Embrace challenges and learn we work in from failure • Follow through to get results CONTENTS Value Creation Story Story Value Creation 2 NSG Group Timeline 4 Value Creation Process of NSG Group 6 Strategy & Sustainability 8 Progress on Key Measures 10 Financial and Non-financial Highlights Value Creation Strategies Strategies Value Creation 12 CEO Message 18 CFO Message Our Business 20 Business Overview 22 Architectural 24 Automotive 26 Technical Glass Foundations Supporting the Supporting the Foundations Corporate Value Foundations Supporting the Corporate Value Corporate Governance 28 External Director Dialogue 34 Board of Directors 36 Corporate Governance Overview 42 Risk Management 44 Ethics and Compliance Information Other Sustainability 46 Message from Director of Sustainability 48 Targets 50 Energy Usage 54 Air Emissions 56 Resources and Recycling 58 Suppliers 60 Employees 62 Health and Safety 64 Communities Other Information 66 NSG Group – Corporate History 68 Shareholder Information 69 Corporate Data NSG Group Integrated Report 2019 1 NSG GROUP TIMELINE —Accelerating globalization and VA transformation— NSG Group celebrated its 100th anniversary in 2018. Since our founding in 1918, we have continued to embrace the business spirit of the 400-year-old Sumitomo Group and tap into the potential of glass as a material in pursuing the creation of comfortable living spaces. With the 2006 acquisition of the major UK glass manufacturer Pilkington plc, we became one of the world’s largest companies in the flat glass industry. After the global financial crisis and the Global sales weightings Change in VA transformation Other regions 4% Japan / Asia 95% North America 1% Main countries or regions outside of Japan FY14 FY06 Asia: China, Malaysia, Philippines North America: US, Canada 1/3 Other regions: Europe FY19 FY19 Europe 40% Asia 33% Americas 27% 46% Business Results nt ¥ n 0000 Operating profit Profit attributable to owners of the parent 0000 20000 0 −60,000 ar end 200 200 200 2009 2010 2011 2012 201 201 201 201 201 201 2019 Medium-Term Plan Global financial crisis 2 NSG Group Integrated Report 2019 European debt crisis, we launched the Medium-Term Plan (MTP) in FY2015 with the goal of realizing a shift to Value-Added (VA) products based on the Long-Term Strategic Vision of Story Value Creation “transforming into a VA glass company”. Since the launch of the MTP, earnings have gradually improved owing to efforts to expand VA sales, ongoing efficiency improvements, and cost-cutting measures. As a result, we chalked up six straight years of operating profit growth to FY2019. External Revenue Group Businesses Technical Glass 8% Architectural FY2019 Revenue 41% ¥612.8 billion Automotive 51% nt ¥ n 0000 Elimination of unprofitable Investing in growth businesses 0000 Formulation of Long-Term Strategic Vision 20000 0 −60,000 ar end 200 200 200 2009 2010 2011 2012 201 201 201 201 201 201 2019 MTP MTP Phase 2 European debt crisis NSG Group Integrated Report 2019 3 VALUE CREATION PROCESS OF NSG GROUP Target Customer Social Challenges Business Domain Main Products (B to B) ▪ Glass for solar panels ▪ Construction ▪ Thermal insulation glass company/Housing Climate change manufacturers Architectural ▪ Vacuum glass ▪ Solar control glass ▪ Solar panel makers glass ▪ High light transmission glass ▪ Window/frame makers ▪ Fire protection glazing Environmental conservation ▪ High surface accuracy windshield ▪ Automobile ▪ Anti-fog coating glass manufacturers ▪ Lightweight glazing ▪ Railcar manufacturers Depletion of Automotive ▪ Specialized transport ▪ Solar control glass manufacturers natural resources glass ▪ Thermal insulation glass ▪ Vehicle glass ▪ Glass antenna replacement companies Safety and health ▪ Battery separator ▪ Timing belt ▪ High-tensile strength glass cord manufacturers ▪ Battery Technical ▪ Copier/printer lenses ▪ Glass flake manufacturers Mobility glass ▪ Ultra fine flat glass ▪ Office equipment manufacturers technology ▪ Crystal tableware innovation Management principle Business strategy Management “Our Vision” Core business: Strengthen business profitability principle & ▪ Mission Shift to VA ▪ Aspiration + Growth business: Expansion of the top line Growth New business: Creating “Business Business ▪ Core values Innovation Center" strategy Realize efficient allocation of capital resources across the global business structure Global Presence Technology ▪ Global footprint with 29 float lines (Manufacturing capital) ▪ Float technology ▪ R&D center in Japan, US and Europe (Intellectual capital) ▪ Online coating technology Business ▪ 27,000 Employees (Physical capital) ▪ Glass shaping technology ▪ Global supply chain (Manufacturing capital, social related) ▪ Glazing technology foundation ▪ Antenna technology ▪ Analysis and evaluation technology Strong bond with stakeholders grown over 100 years 4 NSG Group Integrated Report 2019 Re-investment Value Creation Story Value Creation Responsibility SDGs Contribute to: Outcome ∙ Energy saving ∙ Renewable energy (Photovoltaic) ∙ Safe, comfortable, and MTP clean living space Energy use and ∙ Environmental Phase2 contribution through GHG emission glass recycling reduction Employee safety Contribute to: Financial Performance ∙ Energy saving Employee labor Attain MTP targets ∙ Safe and comfortable conditions and mobile space human rights 1. Establish financial sustainability ∙ Realization of mobile society Reduction in 2. Transform into a VA glass landfill waste company Financial targets Anti-corruption ▪ Net debt/EBITDA ratio: 3 and competitive behavior ▪ ROS > 8% Contribute to: Guideline ∙ Energy saving Human resources ▪ Shareholders’ equity ratio: ∙ Energy creation development 20% ∙ Making devices smaller and lighter ▪ ROE: 10% ∙ Durability enhancement ▪ The VA ratio of sales: > 50% (Resource saving) ▪ ¥ 50-¥60 billion in trading ∙ Connected society profit Sustainability strategy Identifying and addressing material Sustainability issues for NSG Group and Policy stakeholders Realize efficient allocation of capital resources across the global business structure Core Values ▪ Respect others and unleash Corporate Governance their potential ▪ Exemplify trust and integrity ( Company with a committee ▪ Ensure efforts to serve society governance structure, separation ▪ Take the initiative of execution and management, ▪ Embrace challenges and learn and oversight by mostly from failure ▪ Follow through to get results independent external directors, Corporate Governance Guidelines) Strong bond with stakeholders grown over 100 years NSG Group Integrated Report 2019 5 STRATEGY & SUSTAINABILITY Strategy Long-Term Strategic Vision Completed MTP Currently executing MTP Phase 2 to Restructuring to 1. Achieve financial achieve the Long-Term Strategic restore profitability sustainability Vision of “transforming into a VA Glass Company” Operational efficiency NSG Group is currently executing Phase 2 of the Medium- improvement Term Plan (MTP), which will end in FY2020 with the goal of Exit from unprofitable businesses achieving the Long-Term Strategic Vision of “transforming Increased VA ratio into a VA Glass company”. Key targets of the MTP are to achieve financial sustainability and start the transformation into a VA glass company. The targets announced in the FY2020 forecast are not Earnings expected to be fully achieved. Key targets of MTP Phase 2 recovery (achieving financial sustainability and starting the transformation into a VA Glass Company) are unchanged and we will continue to do what is required to transform our business structure under the policy of “Shift to VA + Growth”. FY2012–FY2014 FY2015–FY2017 Sustainability Key Stakeholders Building a favorable relationship with key stakeholders, including Shareholders, shareholders, investors, customers, Investors employees, suppliers and local communities, is critical to our sustainable business activities. Customers Society The ongoing efforts to realize sustainability are integral to NSG reducing costs and expanding market opportunities. At Group NSG Group, sustainability targets are set by the Sustainability Committee which determines the material issues based on the input by key stakeholders and the impact of corporate activities on the economy, environment and society. By achieving the sustainability targets, the Group aims to build a favorable relationship with key stakeholders, including Suppliers Employees shareholders, investors, customers, employees, suppliers and local communities. 6 NSG Group Integrated Report 2019 Value Creation Story Value Creation Long-Term Strategic Vision MTP After MTP 2. Start
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