Shin-Etsu posts strong silicones business in 2016 - DRAFT

Tokyo – Japan’s Shin-Etsu has reported a strong performance by its silicones business in its 2016 financial year which ended 31 March.

The business unit sales were up 15 percent at Yen187.7 billion (€1.65 billion), while operating income rose 24 percent to Yen41.5 billion.

In Japan, where the company claims to be a market leader, a slowdown in electric and electronic applications was offset by firm demand in cosmetic and automotive markets.

Globally, the company said, its “highly functional” products were strong in Europe, the US and South East Asia.

The company announced in November last year that it was expanding its silicones business domestically and globally.

In Japan, the company said it is investing Yen20 billion in facilities’ expansion and R&D, in a bid to strengthen its production “at each stage”.

The project includes a Yen5 billion investment at Shin-Etsu’s Gunma complex – its largest production base in Japan – to build a new research site adjoining its existing silicone-electronics materials research centre.

Furthermore, Shin-Etsu will invest another Yen12 billion at the Gunma Complex to build new facilities to make silicone products in small quantities.