Shin-Etsu Chemical Co., Ltd. (SHECF.PK, SHECY.PK), a Japanese chemical company, on Friday posted a decline in earnings for the nine-month period, amidst current negative macro-economic trends and market fluctuations.
For the nine-month period, the company posted a net profit of 406.529 billion yen or 202.23 yen per share, lesser than 578.519 billion yen or 283.14 yen per share, registered for the same period in 2022.
Income before income taxes and non-controlling interests stood at 614.571 billion, compared with 824.217 billion yen a year ago.
Ordinary income was at 615.732 billion yen as against last year's 824.217 billion yen.
Operating income fell to 559.528 billion yen from 808.227 billion yen a year ago.
Revenue was 1.823 trillion yen from previous year's 2.163 trillion yen.
Looking ahead, citing current global geopolitical issues, risk of economic downturn in China, and economic recession in the U.S., Shin-Etsu said that it expects a decline in earnings and sales for the full year.
For the full year, the company expects net profit of 520 billion yen or 258 yen per share, a decline of 27 percent from last year, and sales of 2.300 trillion yen, down 18 percent from the prior year.
For the full year, the company aims to pay a total dividend of 100 yen per share, down from last year's 500 yen per share.
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