Nippon Kayaku’s agchem sales slide
Japanese company Nippon Kayaku recorded a decline in agrochemical sales in domestic and export markets for the first half ended November 30th 2010. This contributed to a 5.8% drop in sales of the company’s “other” business section, which also includes real estate, to ¥3,872 million ($48 million at the current rate). The first-half slide followed a 14.9% decline in annual agrochemical sales to ¥6,794 million ($84 million) in the year to May 31st 2010, with falls in both domestic and overseas markets. Agrochemicals represented 72.5% of total sales in the “other” business, compared with 74.6% in the previous year.