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Shin-Etsu Reports Rise in Profits and Sales

9:08 AM MST | January 25, 2011 | Deepti Ramesh

Shin-Etsu Chemical says net profits for its fiscal first nine months ended December 31, 2010 increased 50%, compared with the first nine months of the previous fiscal year, to ¥88 billion ($1.06 billion), on sales up 20%, to ¥802 billion. The rise in profits was partly due to a refund of corporate taxes paid in previous fiscal years, after Japanese and U.S. tax authorities reached an agreement settling a dispute on transfer pricing taxation, Shin-Etsu says. The company’s polyvinyl chloride (PVC)/Chlor-alkali business segment recorded net sales of...

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