28 April 2008 07:02 [Source: ICIS news]
TOKYO (ICIS news)--Japanese chemical producer Shin-Etsu Chemical posted a 19.1% year-on-year rise in its full-year operating income to yen (Y)287.1bn ($2.75bn) partly due to the improved performance of its polyvinyl chloride (PVC) business in Europe and the US, the company said on Monday.
Net sales for the year ended 31 March, were up 5.5% to Y1376.4bn, while net income rose 19.2% to Y183.6bn, it added in a statement.
In the organic and inorganic chemicals segment, its US-based PVC subsidiary Shintech operated at full capacity, and the company recorded an increase in sales of PVC in Holland, it said.
However, the domestic PVC business faced harsh conditions due to sluggish demand, due to which, the segment recorded a full-year operating income of Y99.5bn, down 6.8%, while net sales fell 1% to Y701bn.
Full-year operating income of the electronics segment increased 52% to Y162.1bn year on year, while net sales were up 17.8% to Y564.7bn.
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