AgroPages-Nippon Kayaku’s agrochemical sales down 2.7% in FY 2016-Agricultural news

Nippon Kayaku’s agrochemical sales down 2.7% in FY 2016

Report

Japan Pesticide Market Review (2016 edition)

Sales of Japanese company Nippon Kayaku’s agrochemical business slipped by 2.7% to 6,500 million yen in the fiscal year which ended March 31, 2016. The company stated that decline in exports led to sales decrease in agrochemicals business, but domestic sales rose. Agrochemicals is a small business of Nippon Kayaku, only account for 4% of the company’s consolidated sales.

Nippon Kayaku forecast a 7.4% sales increase to some 7,000 million yen for agrochemicals business in fiscal year 2017.

According to the financial report published by Nippon Kayaku, the company analyzed that Japan’s economy is expected to remain on a modest recovery trajectory underpinned by ongoing improvements in employment and personal incomes, and owing to benefits from a decline in crude oil prices and various government policies. The United State’s economy is likely to continue on a steady path to recovery. Although performance is likely to be mixed in economies in Europe, a recovery is expected overall. Also, China’s economy is expected to grow at a slower pace but is expected to grow nonetheless.

Under these conditions, the Nippon Kayaku Group aims to construct a solid financial structure which flexibly adapts to changes in the business environment, as well as expand existing businesses in global growth markets, accelerate the development of new businesses and new products, and enhance profits.

In ‘Take a New Step 2016’ business plan, Nippon Kayaku’s goal is to offer efficient, safe, and highly environmentally compatible agrochemicals with their formulation technologies for the easy-to-use purpose and the optimization of their performance—the business vision of the Agrochemicals Business. It plans to expand business operations by delivering agrochemicals that satisfy the needs of the market environment and customers to continue to contribute to stable agricultural production.