Abstract
MAJOR JAPANESE CHEMICAL firms performed strongly in the fiscal year that ended March 31. Shin-Etsu continued to post record earnings, and Mitsui Chemicals and Asahi Kasei doubled theirs compared with the previous year. Sumitomo Chemical will pay a special dividend after posting net earnings of $601 million, its highest ever. The company enjoyed particularly strong demand for basic chemicals like caprolactam, styrene, and propylene oxide. Its sales of electronic materials, such as polarizing films for flat-panel displays, grew 41.5% under the influence of surging demand. Shin-Etsu has been posting record profits every year for more than a decade, and it did so again in its latest fiscalyear with a 24.5% earnings rise. The company says it enjoyed strong sales in its major business segments as a result of favorable economic conditions. At Asahi Kasei, booming demand from China and the U.S. and the recovery in Japan led to a doubling of earnings. The company builds ...
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