03 August 2012 09:18 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Nippon Shokubai on Friday posted a 28% year-on-year decline in its first three months of the financial year to yen (Y) 4.95bn ($63.25m) due to decreased sales volume and smaller price spread between feedstocks and products.
Operating profit for the three months to 30 June 2012 fell 26% to Y7.14bn in the corresponding period a year earlier, while net sales was down 4.9% to Y79.3bn, the company said in a statement.
First-quarter net sales in the basic chemicals segment decreased 7.6% to Y33.6bn from the same time the previous year, while operating profit declined 43% to Y3.01bn, Nippon Shokubai said.
($1 = Y78.26)
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