Nippon Shokubai nine-month net profit down 74% on plant blast

07 February 2013 09:19  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Nippon Shokubai’s April-December net profit plummeted by 74% year on year to yen (Y) 4.42bn ($47m) because of the impact of the blast at its Himeji plant in September, the company said on Thursday.

Nippon Shokubai’s acrylic acid and super absorbent polymer (SAP) facilities at Himeji in western Japan have been shut following the explosion on 29 September 2012.

The company’s operating profit for the nine months to 31 December 2012 declined by 60% year on year to Y10.7bn, while net sales fell by 16% to Y204.4bn.

Nine-month operating profit in the basic chemicals segment slumped by 73% to Y3.29bn from the year before, while net sales were down by 16% to Y86.7bn.

In the segment, net sales of acrylic acid and acrylic esters fell significantly because sales volume of the products considerably declined, owing to the suspension of production, Nippon Shokubai said in a statement.

By: Tomomi Yokomura
+65 6780 4359

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