Asahi Techno Glass Corp will become a wholly-owned subsidiary of Asahi Glass Co Ltd., through a stock swap, the boards of the two companies decided on 16 February 2005. A contract for the swap has been signed and the operation will be carried out 1 July 2005, following approval of the contract by Asahi's Ordinary General Meeting of Shareholders, held March, 2005. Asahi Glass will be implementing the so-called "simple stock swap" procedures provided for in Article 358 of Japan's Commercial Code; these require no approval by the general meeting of shareholders. Created in 1999 from the merger of the Asahi Glass Group's Iwaki Glass Co Ltd., and Toshiba Glass Corp, Asahi Techno Glass is a core company of the Asahi Glass Group in the field of specialty glass.
