Shin-Etsu Issues Profit Warning

Shin-Etsu Chemical has warned that its earnings and sales for the fiscal year ending March 31, 2009 will be lower than previously forecast. “The market environment in a wide range of businesses is quickly worsening, mainly in the electronics and electrical, and automotive industries,” Shin-Etsu says. “Shin-Etsu has continued to strive to overcome the effects of the worsening market. However, the effects of the severe downturn in market conditions since November have gone far beyond the limits of the company’s management efforts.”...

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