29 January 2013 09:13 [Source: ICIS news]
TOKYO (ICIS)--Japan’s Nippon Fine Chemical on Tuesday posted a 33% year-on-year increase in its nine-month net profit to yen (Y) 900m ($9.9m), partly because of the absence of the inventory valuation adjustment made in the same period a year earlier.
Operating profit in the nine months to 31 December 2012 rose by 23% to Y1.25bn year on year, while net sales fell by 6.9% to Y17.5bn.
In the industrial products segment, nine-month operating profit fell by 21% to Y782.1m from the previous year because production at Nippon Fine Chemical’s plant in China was temporarily halted because of expansion work at the plant, the company said in a statement.
Net sales in the industrial products segment rose by 5.5% year on year to Y13.4bn.
($1 = Y90.77)
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