07 August 2012 07:27 [Source: ICIS news]
TOKYO (ICIS)--Japan’s Denki Kagaku Kogyo (Denka) posted a 35% decrease in its first-quarter net profit to yen (Y) 2.38bn ($30.4m) from a year earlier on decreased sales in most segments, the chemical producer said in a statement on Tuesday.
Operating profit for the three months to 30 June 2012 declined 21% year on year to Y4.61bn, while net sales were down 7.7% to Y82.2bn.
In the organic materials segment, net sales decreased 14% to Y36.3bn from the corresponding period a year before.
The operating profit declined 71% to Y636m, partly because Denka had closed one of its styrene monomer (SM) plants as part of its restructuring, which led to a decrease in sales volume, the producer said.
($1 = Y78.24)
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