Hitachi Chemical reports first half year results
November 8, 2011
Hitachi Chemical Co Ltd, Japan, reported a 4.8% decrease in net sales for the first half of its 2011/2012 financial year (April 1 to September 30) compared with the same period in 2010.
Sales reached Yen 240,446 million ($3.094 billion) and operating income was down 36.9% at Yen 15,767 million ($203 million). Falling sales were attributed to cuts in demand in a number of sectors, including automotive, after the earthquake in March.
The company’s ‘Advanced Components & Systems’ division, which includes PM parts and friction materials, reported sales down 7.4% at Yen 113,903 million ($1.465 billion) compared with the same period in 2010.
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