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Showa Denko’s chemicals and petrochemicals businesses report losses, lower sales

8:10 AM MDT | November 2, 2012 | Deepti Ramesh

Showa Denko recorded a 35.8% fall in net profits for the first 9 months of 2012 compared with the year-ago period, to ¥11.2 billion ($140 million). Sales decreased 14.8%, to ¥546.9 billion. During the first 3 quarters of 2012, Japan's exports and production weakened because of the slowdown in the global economy—particularly the slowdowns in Europe and China—and the continued appreciation of the Japanese currency, Showa Denko says. The Japanese economy, as a result, was weak during the period. Production adjustments continued in the...

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