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Moody’s Sees Negative Outlook for Japanese Chemical Industry

11:12 PM MDT | June 30, 2009 | Deepti Ramesh

Moody’s says that it sees a negative outlook for the Japanese chemical industry due to weak demand from the auto, electronics, construction and housing industries. A significant decline in volume has hampered companies’ efforts to keep earnings from deteriorating, Moody’s says. The Ministry of Economy, Trade, and Industry (Tokyo) in Japan expects domestic ethylene production to decline by 6.6% to 6.43 million m.t. in 2009, following a decline of 11.3% in 2008. Current data show that the utilization ratio of ethylene production facilities...

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