Nissan Chemical up 24% in Q3
Nissan Chemical recorded a rise of 23.7% in agrochemical sales to ¥4,637 million ($50 million at the current rate) in its third quarter ended December 31st 2012, compared with the same period in the previous year. Combined with the 16% growth in the first quarter, the sales rise more than offset the 4.3% dip in the second quarter to record an 11.1% increase in nine-month sales to ¥18,009 million ($194.3 million). Sales of the herbicide, Roundup (glyphosate), were up by 16%, while the rest of the agrochemical sales grew by 8%. Nissan acquired Monsanto’s Japanese herbicide business in 2002 ( Agrow No 402, p 4). The company’s agrochemical business recorded an operating profit of ¥197 million ($2.1 million) during the nine months compared with a loss of ¥687 million ($7.4 million).