Japan's Nippon Shokubai full-year net profit down 61% on lower sales

08 May 2013 10:41  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Nippon Shokubai on Wednesday posted a 61% year-on-year decrease in its net profit to yen (Y) 8.4bn ($84.8m) for a full year to 31 March 2013 because of decreased sales volume.

The company’s sales volume was impacted by an explosion at its plant last year.

Nippon Shokubai’s acrylic acid (AA) and super absorbent polymer (SAP) plants at the Himeji factory in Hyogo prefecture have been shut since the blast at the site occurred on 29 September 2012.

Operating profit for the same period declined by 68% to Y10bn from the previous year, while net sales were down by 16% to Y269.5bn.

Full-year operating profit in the basic chemicals segment was down by 84% year on year to Y2.1bn, while net sales fell by 17% to Y113.9bn, partly because the sales volume of AA and acrylic esters decreased following the plant shutdown after the blast, Nippon Shokubai said.

In the performance chemicals segment, operating profit plummeted by 59% to Y6.78bn year on year, while net sales declined by 15% to Y137bn.

($1 = Y99.0)

By: Tomomi Yokomura
+65 6780 4359

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