Showa Denko's Q3 net profit swings to Y1.69bn

29 October 2010 08:00  [Source: ICIS news]

TOKYO (ICIS)--Japan’s Showa Denko posted on Friday a net profit of (Y) 1.69bn ($20.8m) in the third quarter, reversing from a net loss of Y439m in the year-ago period, on the back of increased sales volumes of automotive- and electronic-related products.

Operating profit for the three months to 30 September was Y9.79bn, up 47% from Y6.67bn year on year, while net sales were up 8.1% to Y200.3bn from Y185.3bn, the company said in a statement.

In the chemicals segment, third-quarter operating profit almost halved to Y372m from Y673m in the year-ago period, due to the impact of high feedstock costs, while net sales were down 1.4% to Y21.5bn from Y21.8bn the previous year, Showa Denko said.

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By: Tomomi Yokomura
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