Nihon Nohyaku sales down 15% in first nine months of FY 2016

Sales of Nihon Nohyaku declined 14.8% to 39,217 million yen in the first nine months ended June 30, 2016, due to lower market demand in Japan and dispirited performance in Asian and American markets. The company recorded a 50.7% drop in operating income to 5,030 million yen. 

 

The revenue was contributed by the company’s agrochemicals, chemicals and other products segments. Sales of agrochemicals reached 34,633 million yen, accounting for 88.3% of the total revenue. 

 

Nihon Nohyaku forecasts a 9.5% decrease in total sales to 51,500 million yen for the full year ended September 30, 2016. It estimates that operating income slip by 59.8% to 4,000 million yen.