TOKYO (dpa-AFX) - Shin-Etsu Chemical Co., Ltd. (SHECF.PK) Thursday reported net income of 126.428 billion yen or 66.45 yen per share for the first quarter, lower than 144.021 billion yen or 72.13 yen per share last year, mainly impacted by higher cost of sales and foreign exchange losses.
Operating income decreased to 166.803 billion yen from 191.023 billion yen in the prior year.
Sales for the period, however, grew to 628.549 billion yen from 597.930 billion yen in the previous year.
For the full year, the company expects sales to decline 6.3% year-on-year to 2,400 billion yen. Net income is expected to decrease 12% to 470 billion yen with EPS of 250 yen.
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