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Shin-Etsu Reports Fall in Profits and Sales

3:41 AM MDT | October 27, 2011 | Deepti Ramesh

Shin-Etsu Chemical recorded an 18% fall in net profits for the fiscal first half ended September 30, 2011, to about ¥51 billion ($672 million) compared with the year-ago period on sales down 2%, to ¥521.3 billion. Net profits for the fiscal first half include an extraordinary loss of ¥5.3 billion incurred due to the earthquake and tsunami that hit Japan in March 2011, Shin-Etsu says. All of the company’s production facilities that were affected by the disaster were working normally by the end of June. The year-ago net profit figure included a...

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