Shin-Etsu Reports Fall in Profits and Sales

Shin-Etsu Chemical recorded a 14.3% fall in net profits for the fiscal first nine months ended December 31, 2011, compared with the year-ago period, to ¥75.6 billion ($974 million). Sales decreased 1.3%, to ¥791.4 billion. Third-quarter figures were not disclosed. Net profits for the nine month include an extraordinary loss of ¥5.3 billion incurred due to the earthquake and tsunami that hit Japan in March 2011, Shin-Etsu says. Shin-Etsu’s Kashima plant and the Shirakawa plant operated by the company’s Shin-Etsu Handotai subsidiary had to...

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