Asian Chemical Connections
Faltering demand, rising costs and poor profitability are piling pressure on Japan's chemical sector. Now it faces tough decisions as the realities of cost-cutting, closures and restructuring come into play
Domestic demand for LCD televisions has been flat since an initial surge when Japan switched to digital broadcasting in 2011
With the exception of Shin-Etsu Chemical and a few others, chemical companies reported a significant decrease in profits for the first quarter of fiscal year 2012 (April-June). There has been no sign of improvement in the second quarter (July-September), with the top five chemical companies reporting declines in both revenues and profits.
INSIGHT: Shell has decisions to make alongside Moerdijk headaches
"Much is being made of Shell's decision to cut capital spending by $15bn over the next 3 years, a greater cut than those announced by other oil & gas
VIDEO: ICIS special report - impact of lower crude oil prices