ISK’s agchem sales up 19% in first quarter
Sales of Ishihara Sangyo Kaisha (ISK)'s organic chemicals division, which comprises agrochemicals, amounted to ¥15,675 million ($158 million at the current rate) in the first quarter ended June 30th 2013. This represented a 19.4% increase on the same period in 2012, when pharmaceutical ingredients made up a minor proportion of less than 2% of the division. Divisional operating profit came in at ¥555 million ($6 million), a dramatic increase from the ¥47 million ($475,000) achieved a year earlier, when the company suffered a 7% sales decline (Agrow No 652, p 5). In the year to March 31st 2013, the company's agrochemical sales rose by 8.8% to ¥43,200 million ($437 million – Agrow No 670, p 12).