Shin-Etsu Reports Rises in Profits and Sales

Shin-Etsu reported an 11.7% increase in net profits for the fiscal first-quarter, ended June 30, 2012, compared with the year-ago period, to ¥26.6 billion ($340 million). Sales increased 6.6%, to ¥266.5 billion. Despite an improvement in the Japanese economy during the first quarter due to demand resulting from reconstruction work following the earthquake and tsunami that struck northeast Japan in March 2011, the business environment remained challenging as a result of the continuing appreciation of the Japanese currency and high crude oil prices...

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