Japan's Showa Denko posts 36% decrease in Jan-Sept net profit

01 November 2012 07:13  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical maker Showa Denko said on Thursday its net profit in the nine months ended 30 September declined by 36% to yen (Y) 11.2bn ($140m) from the same period a year earlier, largely owing to a trouble at its chemical plant.

Net sales from 1 January to 30 September fell by 15% year on year to Y546.9bn, while operating profit was down by 39% at 23.8bn, the producer said in a statement.

Its petrochemicals net sales during the period declined by 31% to Y131.4bn from the previous year, while an operating loss of Y2.17bn was recorded, swinging from an operating profit of Y5.08bn a year earlier, Showa Denko said.

This was because the producer suspended production of ethylene and propylene from March to early June following a technical problem at an unspecified naphtha cracker, Showa Denko added.

($1 = Y79.79)

By: Tomomi Yokomura
+65 6780 4359

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