Shin-Etsu Reports Fall in Profits and Sales

Shin-Etsu Chemical reported a 46% fall in net profits for the fiscal year ending March 31, 2010, to ¥84 billion ($893 million), compared with the previous fiscal year, on sales down 24%, to ¥917 billion. Shin-Etsu’s polyvinyl chloride (PVC) business reported a 25% fall in full-year sales, to ¥243 billion, compared with the previous fiscal year, and the operating profits for the business decreased 52.5%, to ¥17.4 billion. Shin-Etsu says that in its PVC business, despite the sluggish demand resulting from the long period of stagnation in the...

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