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Showa Denko Swings to Loss

11:38 PM MST | February 11, 2010 | Deepti Ramesh

Showa Denko recorded a net loss of ¥38 billion ($422 million) for the full year 2009, compared with a net profit of ¥2.5 billion in 2008. Sales decreased by 32%, to ¥678 billion. The net loss reflects extraordinary losses due to structural reform of aluminum and other businesses, Showa Denko says. The petrochemicals segment of Showa Denko recorded a 41% fall in full-year sales, to ¥236 billion, compared with 2008. The segment however recorded an operating profit of about ¥8 billion, compared with an operating loss of ¥1.3 billion, due to...

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