Japan's Shin-Etsu Chemical posts 10% rise in nine-month net profit

29 January 2013 08:10  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Shin-Etsu Chemical on Tuesday posted a 10% year-on-year increase in its nine-month net profit to yen (Y) 83.4bn ($918.5m), boosted by the performance of its polyvinyl chloride (PVC) business.

The company’s operating profit rose by 3% year on year to Y121.1bn in the nine months to 31 December 2012, while sales were down by 1.1% at Y782.4bn, the company said in a statement.

In the PVC/Chlor-alkali segment, the company’s operating profit jumped by 68% year on year to Y34.2bn, while net sales rose by 4.7% to Y258.8bn.

The segment’s business performance during the period was boosted by higher sales at its PVC subsidiary firm in the US, Shintech.

($1 = Y90.8)

By: Tomomi Yokomura
+65 6780 4359

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