AgroPages-Nissan agchem reports financial results for nine months ended Dec. 31, 2019-Agricultural news

From April 1, 2019 to December 31, 2019, although capital investment was on an upward trend, Nissan Chemical Corporation profitability of the manufacturing industry was deteriorated due to a slump of exports in the overseas economy.

Sales of the Agricultural Chemicals Segment decreased, mainly in oversea markets. Sales of domestic agrochemicals were strong due to sales of “GRACIA” (insecticide) launched in May in Japan. ROUNDUP revenues increased from the previous year due to natural disasters in the first half of the fiscal year, and remained steady in the third quarter of the fiscal year. Oversea sales of agrochemicals decreased maily for “TARGA” (herbicide) and “LEIMAY” (fungicide). Sales of Fluralaner (active ingredients for veterinary pharmaceuticals) decreased due to the impact of inventories of customers.

As a result, sales of above Agricultural Chemical Segment were 33,443 million yen (a decrease of 1,205 million yen) and operating income were 7,535 million yen (a decrease of 992 million yen).