Shin-Etsu Polymer Posts Declining Results for Q1 as Coronavirus Hits Automotive Industry

Shin-Etsu Polymer Co. Ltd. (TYO:7970) recently posted its business results for the first quarter of fiscal 2020, revealing a drop in both sales revenue and profits. The company ended the quarter with sales of 18.33 billion yen ($171.49 million), down by 5.7 percent year-on-year; operating profit of just under 1.36 billion yen, down by 25.3 percent; ordinary profit of 1.58…

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