Japan’s Nippon Shokubai nine-month profit soars on strong sales

08 February 2011 09:57  [Source: ICIS news]

TOKYO (ICIS)--Japan’s Nippon Shokubai reported on Tuesday a nine-month net profit of yen (Y) 13.9bn ($169m), surging 77% year on year partly due to strong sales volumes and higher product prices at its chemicals business.

Sales for the period ending 31 December 2010 increased 20% year on year to Y212.1bn, with operating profit nearly doubling to Y21.9bn from Y11.3bn, the company said.

Operating profit for its basic chemicals segment more than doubled to Y9.76bn from Y4.37bn, partly due to higher export prices of acrylic acid and acrylic ester, Nippon Shokubai said.

Sales of basic chemicals during the period were up 31% year on year to Y112.9bn, the company said.

($1 = Y82.28)

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By: Tomomi Yokomura
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