06 August 2013 11:04 [Source: ICIS news]
TOKYO (ICIS)--Nippon Shokubai’s first-quarter net profit declined 39% year on year to yen (Y) 3.04bn ($31m), largely attributed to the prolonged shutdown of its production facilities in Himeji, the Japanese chemical firm said on Tuesday.
Among the plants shut by a blast that occurred at the company’s Himeji production site in September 2012 are its acrylic acid (AA) and super absorbent polymer (SAP) facilities.
Nippon Shokubai’s net sales in the three months to 30 June 2013 fell by 23% year on year to Y61.2bn, while operating profit plummeted by 70% to Y2.12bn, the company said in a statement.
In the basic chemicals segment, net sales declined by 18% year on year to Y27.6bn, it said.
The business incurred an operating loss of Y315m, reversing the Y3.01bn profit made in the same period last year as sales volume of acrylic acid (AA) and acrylic esters declined, Nippon Shokubai said.
In the performance chemicals segment, net sales fell by 35% year on year to Y26.7bn, while operating profit slumped by 67% to Y1.27bn.
($1 = Y98.30)
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