Japan's Denka posts 72% increase in Q1 net profit

07 August 2013 08:33  [Source: ICIS news]

TOKYO (ICIS)-- Japanese chemical producer Denki Kagaku Kogyo (Denka) posted a 72% increase in its first-quarter net profit to yen (Y) 4.10bn year on year, on price increases and cost-cutting measures, the company said on Wednesday.

Net sales for the three months to 30 June, 2013 stood at Y87.5bn, a 6.4% year-on-year increase, while its operating profit rose by 14% to Y5.25bn, Denka said in a statement.

In the elastomers and performance plastics segment, net sales was up by 6.1% to Y38.5bn from the previous year, while operating profit nearly tripled to Y1.73bn from Y636m recorded in 2012, because of the depreciation of Yen and price increases of styrene monomer (SM) and polystyrene (PS), the producer said.

Net sales in the infrastructure and inorganic materials segment increased by 3.9% year on year to Y11.1bn, while operating profit rose by 84% to Y1.07bn.

($1 = Y97.69)

By: Tomomi Yokomura
+65 6780 4359

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