The drastic downturn in the Japanese economy has affected the financial results of Tokyo-based company Showa Denko, but positivity remains strong.
Showa Denko K.K. (SDK), involved in the production and supply of specialty gases and high grade ammonia gas, has released details of its business results for 2008.
Consolidated net sales for the year decreased 1.9%, to JPY 1,003,876m, and operating income fell 65.1%, to JPY 26,792m.
According to Showa Denko, the drop in operating income was mainly due to the fall in shipments of petrochemicals and the influence of the sharp fluctuations in naphtha costs; the effect of higher yen and increased depreciation expenses in the Electronics segment; and low demand for aluminum from the construction and automobile industries.
... to continue reading you must be subscribed
