SDS Biotech sales down but profits up in 2012
SDS Biotech, the agrochemical subsidiary of Japanese company Idemitsu Kosan, recorded sales of ¥10,362 million ($111 million at the current exchange rate) in 2012, down by 7.3% on the previous year. While the company saw higher domestic sales in the non-crop sector, overseas sales were hit by price competition with generics. As a result, the overall sales decline was greater than the forecast 6.1% ( Agrow No 636, p 8). However, operating income was up by 10.1% to ¥932 million ($10 million), beating the company’s forecast increase to ¥910 million ($10 million).