AgroPages-Nippon Kayaku agrochemical sales rose 15% in H1 FY 2016-Agricultural news

Nippon Kayaku agrochemical sales rose 15% in H1 FY 2016

Japanese company Nippon Kayaku posted that consolidated sales of its agrochemical business were up 15% to 2,300 million yen in the first half year of fiscal year 2016 ended March 31st 2016. The revenue of agrochemical business only accounts for approximately 3% of the company’s total sales. According to the company, overall sales of its agrochemical business were improved year-on-year. For this year, although sales were down in Japan local market, exports increased.

Operating profit of the first half year fell 29.5% versus the same period of last fiscal year to 300 million yen.

The company forecasts a decline in revenues (10.3%) and operating profit (13.7) in the agrochemical business in the second half year. These two figures were estimated at 4,200 million yen and 800 million yen, respectively. Full year sales forecast of 2016 is to be 6,500 million yen.

Nippon Kayaku was founded in 1916, and now it approaches the 100th Anniversary of its founding, and issued numerical targets for 2016 and mid- and long-term growth scenarios. For agrochemical business, the company reveals that its new insecticide (ANM-138) is currently filing for regulatory approval.