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Shin-Etsu fiscal 2013 net income rises on lower sales, outlook for 2014 uncertain
April 25, 2013 | Natasha Alperowicz
Shin-Etsu today reported a 5% rise in net income in the fiscal year ended 31 March, to ¥105.71 billion ($1.067 billion), on 2.1% lower sales, of ¥1.03 trillion. Operating income was 5% higher, at ¥157 billion. Uncertainty surrounding the global economy, particularly Europe’s financial problems, has led Shin-Etsu to refrain from making a forecast for full-year 2014 for the time being. Sales of the company’s polyvinyl chloride (PVC) business increased by 6.1%, to ¥343.7 billion, and operating income rose by 92.6%...
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