Hokko’s sales down in tough market
Hokko Chemical Industry’s agrochemical sales decreased by 1.2% to ¥29,077 million ($365 million at the current rate) in the year to November 30th 2011. Stronger competition in the Japanese rice market for insecticide/fungicide combination products was the main reason for the decline. Japan is the company’s most important market. Its domestic sales dipped 1.4% to ¥27,685 million ($347 million), while exports rose 2% to ¥1,392 million ($17 million).