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Shin-Etsu reports higher sales and earnings

4:14 AM MDT | July 24, 2014 | Natasha Alperowicz

Shin-Etsu today reported its financial results for the first fiscal quarter, ended 30 June. Consolidated net income was up 2.8%, to ¥32.9 billion ($324.1 million), on 8.7% higher sales of ¥294.5 billion. The company has revised its forecast for fiscal year covering 1 April 2014–31 March 2015 and says it expects net income to be 5.6% higher from the year-earlier period, at ¥120 billion, with sales advancing 1.2%, to ¥1.18 trillion.   The chlor-alkali and polyvinyl chloride (PVC) business increased sales by 0.5%, to ¥102.9 billion...

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