Shin-Etsu silicones earnings up 19%

Tokyo – Shin-Etsu Group has posted an 18.9% rise in operating income, to Yen12,174 million €93.2 million), at its Silicones business in the first quarter on sales of Yen49,978 million – 10.0% higher than in the same period of last year.

During the three months to 30 June, Shin-Etsu said “domestic shipments of products application for cosmetics, on-board automotive and electronics equipment “continued to be firm.”

“Globally, shipments of functional products for the US, Europe and Asia generally did well, and sale of general purpose products also increased,” added a 25 July release.

Group-wide Shin-Etsu reported net sales up 11.8% to Yen336,242 million and operating income up 23.5% to yen74,142 million.

As well as silicones, Shun-Etsu other business segments are: PVC, Chlor-Alkali; Speciality chemicals; Semi-conductor silicon; Electronic & functional materials; and Processing, Trading & Specialised Services.

Commenting on prospects for the group as a whole, Shin-Etsu cautioned that “the world economy contains many uncertain factors and it does not allow of optimism.”

Shin-Etsu said its response to the economic situation would include “constructing manufacturing bases at optimal locations in the world and strengthening and expanding existing facilities.”