Shin-Etsu Lowers Profit and Sales Projections

Shin-Etsu Chemical has lowered its net profits projection for the fiscal year ended March 31, 2009, to ¥160 billion ($1.6 billion), from ¥200 billion, and cut its sales projection to ¥1.2 trillion from ¥1.4 trillion. “With the market worsening on a global scale, the business environment of the company has worsened rapidly since November 2008 and our business performance has been adversely affeted, particularly our electronic materials businesses such as silicone wafers,” Shin-Etsu...

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