04 28-13 shinetsu results-q4-1

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04 28-13 shinetsu results-q4-1

  1. 1. Financial SummaryFor the year ended March 31, 2013(April 25, 2013)Shin-Etsu Chemical Co., Ltd.
  2. 2. Operating Performance ------------------------------------------------------------------------------------------Financial Highlights ---------------------------------------------------------------------------------------------------------------Segment InformationOperating Performance --------------------------------------------------------------------------Capital expenditures and Depreciation and amortization ------------------------------Summary by SegmentPVC/Chlor-Alkali Business Segment ----------------------------------------------------------- P5Silicones Business Segment -------------------------------------------------------------------- P6Specialty Chemicals Business Segment ------------------------------------------------------ P7Semiconductor Silicon Business Segment -------------------------------------------------- P8Electronics & Functional Materials Business Segment ------------------------------------Diversified Business Segment ------------------------------------------------------------------ P10Quarterly Operating Performance by SegmentSales ---------------------------------------------------------------------------------------------------------Operating Income ----------------------------------------------------------------------------------------Operating Performance of Shintech, Inc. ------------------------------------------------------- P13Consolidated Financial StatementsComparative Income Statements -----------------------------------------------------------Comparative Balance Sheets -----------------------------------------------------------------Comparative Statements of Cash Flows ---------------------------------------------------Cash Dividends per Share ------------------------------------------------------------------------------Appendix ------------------------------------------------------------------------------------------------P1P2P3P4P5P6P7P8P9P10P11P12P13P14P15P16P17P18-24CONTENTS
  3. 3. Operating Performance(Billions of Yen)Increase Increase(Decrease) (Decrease)1,494.6 1,623.2 128.6 672.3 697.6 25.31,809.8 1,920.9 111.1 841.8 839.3 (2.5)80.3% 82.0% 1.7points 79.5% 82.9% 3.4points3,423 3,709 286 1,576 1,637 61Total AssetsNet AssetsEquity RatioNet Assets per share(in Yen)2013Mar. 312013Consolidated Non-consolidatedMar. 31 Mar. 31Mar. 312012 20121(Billions of Yen)Increase Increase(Decrease) (Decrease)(2.1%) (3.4%)(22.3) (19.5)5.0% (3.6%)7.4 (2.8)3.0% 6.1%5.0 5.05.0% 15.6%5.1 7.77.0% 7.0% 0.0points 7.4% 8.3% 0.9points9.2% 9.1% (0.1points) 9.9% 10.4% 0.5pointsPer share (in Yen)Net income 237.03 248.94 11.91 115.49 133.53 18.04Cash dividend 100.00 100.00 -100.6ROAOrdinary incomeNet incomeROE165.2Net SalesOperating income579.0 559.580.1 77.31,047.7149.61,025.4157.0170.2105.787.049.0 56.782.0Consolidated11/4-12/3Fiscal year12/4-13/3Fiscal yearNon-consolidatedFiscal year Fiscal year11/4-12/3 12/4-13/3(1) ROE: Return (Net income) on equity.Equity used for this calculation is net assets excluding both Share subscription rights and Minority interests inconsolidated subsidiaries.(2) ROA: Return (Ordinary income) on total assets.Notes:
  4. 4. Financial Highlights(Billions of Yen)Fiscal year Fiscal year Fiscal year Fiscal year11/4-12/3 12/4-13/3 11/4-12/3 12/4-13/387.2 86.8 22.2 30.082.9 81.0 24.4 23.935.7 37.7 25.4 28.215.3 13.2 11.4 11.316,167 17,712 2,695 2,69279.8 79.8 - -(Yen/US$) Apr - Mar (Avg) 79.1 83.1 79.1 83.1R&D costsNumber of employeesConsolidated Non-consolidatedCapital expendituresDepreciation and amortizationExchange rate Jan - Dec (Avg)Interest-bearing liabilitiesExchange rate(Yen/US$)2Notes: (1) An average exchange rate between January and December was used for theConsolidated Income Statements of overseas subsidiaries.(2) For further exchange rate data, please see Appendix on page 18.
  5. 5. Segment Information(Billions of Yen)Fiscal year Fiscal year Increase Fiscal year Fiscal year Increase11/4-12/3 12/4-13/3 (Decrease) 11/4-12/3 12/4-13/3 (Decrease)6.1% 92.6%19.7 21.9(4.7%) (15.0%)(6.5) (5.1)(4.1%) (1.6%)(3.6) (0.2)(11.8%) (36.1%)(27.1) (12.4)2.8% 7.1%5.0 2.7(10.4%) 11.3%(9.8) 0.6(2.1%) 5.0%(22.3) 7.4157.0Total 1,047.7 1,025.4 149.6Silicones BusinessSpecialty ChemicalsBusinessSemiconductor SiliconBusinessPVC/Chlor-Alkali Business 343.7 23.7 45.6Operating Income324.0Net Sales129.083.5202.583.9182.8 40.928.614.533.738.221.9135.587.1229.693.7177.85.614.734.35.0Diversified BusinessElectronics & FunctionalMaterials Business3-1
  6. 6. OperatingIncome157.0Billions of YenSales1,025.4Billions of YenSales and Operating Income by Segment (Proportion)Fiscal year2012/4-2013/33-2SemiconductorSilicon14%Silicones18%SpecialtyChemicals9%Electronics &FunctionalMaterials26%Diversified4%PVC/Chlor-Alkali29%SpecialtyChemicals8%Electronics &FunctionalMaterials18%Silicones13%SemiconductorSilicon20%Diversified8%PVC/Chlor-Alkali33%
  7. 7. Capital expenditures andDepreciation and amortization by Segment(Billions of Yen)87.2 86.8PVC/Chlor- Alkali Business 18.3 18.5Silicones Business 14.4 15.4Specialty Chemicals Business 13.0 12.2Semiconductor Silicon Business 23.6 14.8Electronics & FunctionalMaterials Business 14.6 22.0Diversified Business 3.4 4.282.9 81.0PVC/Chlor- Alkali Business 17.1 20.4Silicones Business 8.0 8.2Specialty Chemicals Business 8.8 8.9Semiconductor Silicon Business 31.0 26.2Electronics & FunctionalMaterials Business 14.3 13.8Diversified Business 3.9 3.712/4-13/3Fiscal year Fiscal yearCapital expendituresDepreciation and amortization11/4-12/34
  8. 8. 0.010.020.030.040.02010年3月期 上半期 2010年3月期 下半期5PVC/Chlor-Alkali Business Segment(Billions of Yen)Fiscal year11/4-12/30.0100.0200.0300.0Fiscal year12/4-13/3Fiscal year12/4-13/3Fiscal year11/4-12/3Net Sales Operating Income・ With regard to the PVC business, although the recovery in demand in the U.S.remained at a low level, Shintech in the U.S. maintained a high level of shipments byexpanding sales to its customers worldwide, starting with its customers in Centraland South America, and its business performance increased greatly.・ Shin-Etsu PVC in the Netherlands also maintained its good shipments.・ The tough business situation in Japan continued due in part to sluggish demand andthe effect of raw material price increases.(Billions of Yen)160.1178.5 23.7343.713.424.2324.045.6AnnualFirst HalfAnnualFirst Half
  9. 9. 0.010.020.030.02010年3月期 上半期 2010年3月期 下半期6(Billions of Yen)Fiscal year11/4-12/30.050.0100.0150.0Fiscal year12/4-13/3Fiscal year12/4-13/3Fiscal year11/4-12/3Net Sales Operating Income(Billions of Yen)70.5 65.633.7129.017.414.9135.528.6Silicones Business Segment・ With regard to the silicones business, sales in Japan were firm for productapplications in the cosmetics field. However, sales of product applicationsfor the automobile field were sluggish from the latter half of FY 2013. Inaddition, sales of product applications for electronics equipmentgenerally continued to be slow. On the other hand, in our siliconesbusiness outside of Japan, the business was strongly affected by a slumpin market prices in the Asian region, such as in China.AnnualFirst HalfAnnualFirst Half
  10. 10. 0.05.010.015.02010年3月期 上半期 2010年3月期 下半期7(Billions of Yen)Fiscal year11/4-12/30.020.040.060.080.0Fiscal year12/4-13/3Fiscal year12/4-13/3Fiscal year11/4-12/3Net Sales Operating Income(Billions of Yen)42.2 41.314.783.57.0 7.687.114.5Specialty Chemicals Business Segment・ With regard to cellulose derivatives, in Japan, this business continued todo well mainly in products for building and construction applications andfor pharmaceutical-use, and in addition, the business of SE Tylose inGermany also continued to be firm, mainly in coating applications.・ The silicon metal business of Simcoa Operations in Australia wasaffected by a sluggish market.AnnualFirst HalfAnnualFirst Half
  11. 11. 0.010.020.030.02010年3月期 上半期 2010年3月期 下半期8(Billions of Yen)Fiscal year11/4-12/30.050.0100.0150.0200.0250.0Fiscal year12/4-13/3Fiscal year12/4-13/3Fiscal year11/4-12/3Net Sales Operating Income(Billions of Yen)124.2108.534.3202.521.112.6229.621.9Semiconductor Silicon Business Segment・ With regard to semiconductor silicon, although the demand for somecutting-edge semiconductor devices, such as smartphones and tablet PCs,remained strong, demand for consumer electronics products such as PCsand flat-panel TVs continued to be slow, and a severe business situationcontinued.AnnualFirst HalfAnnualFirst Half
  12. 12. 0.010.020.030.040.02010年3月期 上半期 2010年3月期 下半期9(Billions of Yen)Fiscal year11/4-12/30.050.0100.0150.0200.0Fiscal year12/4-13/3Fiscal year12/4-13/3Fiscal year11/4-12/3Net Sales Operating Income(Billions of Yen)76.5101.638.2182.818.8 21.0177.8 40.9Electronics & Functional Materials Business Segment・ With regard to the rare earth magnets business, although shipments of products for suchapplications as in hard disk drives and air-conditioners continued to be slow, shipments ofproducts for applications in automobiles were strong, starting with hybrid vehicles.・ The photoresist products business continued to be good, aided by the progress insemiconductor device miniaturization.・ The business of materials for LED packaging continued to be firm.・ Shipments of optical fiber preform continued to be robust, contributed to by the operationsof our new plant in China as well as continued strong demand.AnnualFirst HalfAnnualFirst Half
  13. 13. 0.01.02.03.04.05.06.02010年3月期 上半期 2010年3月期 下半期10(Billions of Yen)Fiscal year11/4-12/30.020.040.060.080.0100.0Fiscal year12/4-13/3Fiscal year12/4-13/3Fiscal year11/4-12/3Net Sales Operating Income(Billions of Yen)47.941.55.083.92.73.193.75.6Diversified Business Segment・ Shin-Etsu Polymer Co., Ltd.’s business of keypads for automobileapplications remained steady; however, the company’s business ofsemiconductor wafer-related containers continued to be slow due tosluggish demand for semiconductor devices.AnnualFirst HalfAnnualFirst Half
  14. 14. Quarterly Sales by Segment11266.520.852.154.421.532.285.51Q Total4Q3Q2QTotal4Q3Q2Q1Q1,025.483.9182.8202.583.5129.0343.7243.021.339.543.921.432.084.9245.421.141.750.120.831.480.3270.520.749.554.119.833.493.0Fiscal year12/4-13/31,047.793.7177.8229.687.1135.5324.0250.024.036.066.220.835.567.5Fiscal year11/4-12/3271.423.940.558.021.435.092.6270.022.948.657.222.731.687.0256.322.952.748.222.233.476.9PVC/Chlor-AlkaliBusinessTotalDiversifiedBusinessElectronics &Functional MaterialsBusinessSemiconductorSilicon BusinessSpecialty ChemicalsBusinessSiliconesBusiness(Sales) (Billions of Yen)
  15. 15. Quarterly Operating Income by Segment125.61.11.41.31.85.01.31.01.01.7DiversifiedBusiness40.310.46.63.97.59.91Q Total4Q3Q2QTotal4Q3Q2Q1Q157.040.921.914.528.645.635.99.34.03.66.711.437.510.65.33.37.010.043.310.66.03.77.414.3Fiscal year12/4-13/3149.638.234.314.733.723.740.09.210.43.59.26.1Fiscal year11/4-12/340.49.610.73.58.27.337.29.29.43.57.17.032.010.23.84.29.23.3PVC/Chlor-AlkaliBusinessTotalElectronics &Functional MaterialsBusinessSemiconductorSilicon BusinessSpecialty ChemicalsBusinessSiliconesBusiness(Operating Income) (Billions of Yen)
  16. 16. Operating Performance of Shintech, Inc.Millions of US$ Billions of Yen Millions of US$ Billions of Yen2,716 216.9 2,941 234.8 8.3%251 20.1 551 44.0 2.2 times166 13.3 371 29.6 2.2 times2,998 233.0 3,364 291.24,243 329.9 4,422 382.9Fiscal year11/1-11/12Fiscal year12/1-12/12Net IncomeTotal AssetsNet SalesOrdinary IncomeNet Assets13-1Exchange rate Jan-Dec (Average) : Fiscal year 11/1-11/12 79.8 Yen/US$Fiscal year 12/1-12/12 79.8 Yen/US$Increase(Decrease)on US$ basis・Both on a U.S. dollar base and after conversion on a Japanese Yen base, thesefigures represent the highest level of profit the company has ever recorded.・Ordinary income of US$ 551 million was 2.2 times that of the previous fiscal year.
  17. 17. (Reference) Shintech historical performance5512511931723372653753382512051791,6671,1942,9412,7162,2732,0662,0002,1582,1141,8211,440Ordinary incomeNet sales6099%2512,716201178119%5512,94120122002 2003 2004 2005 2006 2007 2008 2009 2010Net sales (A) 1,194 1,440 1,821 2,114 2,158 2,000 2,066 1,667 2,273Ordinaryincome (B)179 205 251 338 375 265 337 172 193(B)/(A) 15% 14% 14% 16% 17% 13% 16% 10% 9%U.S.Housingstarts(thousands)1,705 1,848 1,956 2,068 1,801 1,355 906 554 587(Millions of US$)13-2
  18. 18. Comparative Income Statements (Consolidated)(Billions of Yen)Fiscal year Fiscal year Increase11/4-12/3 12/4-13/3 (Decrease)(2.1%)(22.3)Cost of sales 798.6 769.4 (29.2)99.5 98.9 (0.6)5.0%7.4Non-operating income/expenses 15.6 13.2 (2.4)3.0%5.0Extraordinary Income 5.5 - (5.5)Extraordinary loss 16.1 6.1 (10.0)6.1%9.4Income taxes 54.2 56.8 2.6(0.1) 1.6 1.75.0%5.1100.6 105.7Net Sales 1,047.7 1,025.4Operating IncomeSelling, general andadministrative expensesOrdinary IncomeNet IncomeMinority interests in earnings ofconsolidated subsidiaries157.0165.2Income Before Income Taxes170.2149.6154.7 164.114(1) Loss on sales of investment securities 6.1billion yen(2) Extraordinary Income: Reversal of costs for earthquake 5.5 billion yenExtraordinary Loss : Loss on impairment 6.2 billion yenLoss on disaster (Fixed cost during stoppage of operation) 5.3 billion yenProvision of allowance for doubtful accounts 4.6 billion yenNotes:Note(1)Note(2)
  19. 19. Comparative Balance Sheets (Consolidated)(Billions of Yen)March 31 March 31 Increase March 31 March 31 Increase2012 2013 (Decrease) 2012 2013 (Decrease)Current Assets 942.2 1,032.5 90.3 Current Liabilities 247.4 199.6 (47.8)Cash and time deposits 241.4 252.9 11.5Notes andaccounts payable-trade 109.4 100.2 (9.2)Notes andaccounts receivable-trade 264.3 243.8 (20.5) Short-term borrowings 13.9 5.5 (8.4)Securities 89.3 214.4 125.1 Accrued income taxes 34.8 6.2 (28.6)Inventories 260.3 269.4 9.1 Other 89.4 87.7 (1.7)Deferred taxes, current 34.6 27.5 (7.1)Other 52.3 24.5 (27.8) Long-term Liabilities 67.8 98.1 30.3Fixed Assets 867.6 888.4 20.8 Long-term debt 1.5 7.7 6.2Property, Plant and Equipment 598.6 649.7 51.1 Deferred taxes, non-current 44.3 65.0 20.7Machinery and equipment 330.7 357.0 26.3 Other 22.1 25.4 3.3Other 267.9 292.7 24.8 Total liabilities 315.3 297.7 (17.6)Intangible Fixed Assets 13.6 14.6 1.0 Stockholders equity 1,642.4 1,678.5 36.1Investments and Other Assets 255.5 224.1 (31.4) (189.0) (102.4) 86.6Investments in securities 154.1 129.6 (24.5) 41.2 47.1 5.9Other 101.3 94.5 (6.8) Total net assets 1,494.6 1,623.2 128.6Total assets 1,809.8 1,920.9 111.1 1,809.8 1,920.9 111.1Accumulatedother comprehensive incomeShare subscription rights &Minority interests inconsolidated subsidiariesTotal liabilitiesand net assets15
  20. 20. Comparative Statements of Cash Flows (Consolidated)(Billions of Yen)Fiscal year Fiscal year Increase11/4-12/3 12/4-13/3 (Decrease)(1) Cash Flows from Operating Activities 96.6 235.6 139.0Net Income 100.6 105.7 5.1Depreciation and amortization 82.9 81.0 (1.9)(Increase) decrease in working capital (77.0) 49.3 126.3Others (9.9) (0.4) 9.5(2) Cash Flows from Investing Activities (89.2) (119.3) (30.1)Capital expenditures (81.2) (81.7) (0.5)Others (8.0) (37.6) (29.6)(3) Cash Flows from Financing Activities (42.2) (44.0) (1.8)Increase(Decrease) in borrowings 1.2 (2.4) (3.6)Cash dividends paid (42.5) (42.5) 0.0Others (0.9) 0.9 1.8(4) Effect of Exchange Rate Changes on Cash and Cash Equivalents, and other 2.8 20.4 17.6Net Increase (Decrease) in Cash and Cash Equivalents (32.0) 92.7 124.7Balance of Cash and Cash Equivalents 270.3 363.0 92.7Balance of Interest-bearing Liabilities 15.3 13.2 (2.1)16
  21. 21. Cash dividends per shareCash dividendsper share(Yen)0501002009 2010 2011 2012 2013First half 50 50 50 50 50Annual 100 100 100 100 * 100First half 235.04 83.70 146.83 120.21 131.18Annual 362.39 197.53 235.80 237.03 248.94Dividend payout ratio Annual 27.6% 50.6% 42.4% 42.2% 40.2%Cash dividends pershare (in Yen)Fiscal year ended MarchNet income pershare (in Yen)AnnualFirst Half(Forecast)*Forecast17*
  22. 22. Appendix (For reference)US$ (yen/$)Jan-Jun Apr-Sep Jan-Jun Apr-SepJul-Dec Oct-Mar Jul-Dec Oct-MarJan-Mar 82.3 112.6Apr-Jun 81.7 117.4Jul-Sep 77.9 110.2Oct-Dec 77.4 104.3Jan-Mar 79.3 104.0Apr-Jun 80.2 102.9Jul-Sep 78.6 98.4Oct-Dec 81.2 105.32013 Jan-Mar 92.4 122.0113.8107.3103.4100.6115.0101.8113.7104.2Jan-Dec Apr-Mar111.1109.0102.6107.1Quarterly Quarterly6 months6 months 12 monthsJan-Dec Apr-Mar77.779.7201182.0201279.9EUR (yen/€)86.879.883.179.179.879.879.478.312 monthsAn average exchange rate between January and December was used for the Consolidatedincome Statements of overseas subsidiaries.1) Average Exchange Rate18Note:
  23. 23. Appendix (For reference)TotalJapan U.S. Europe Other Areas Total ConsolidatedChina Net Sales35% 15% 28% 10% 12% 10% 65%366.3 159.6 288.1 107.6 130.9 102.7 681.4 1,047.733% 18% 29% 10% 11% 9% 67%334.3 190.4 295.0 100.1 114.5 91.1 691.1 1,025.4OverseasAsia/OceaniaFiscal year12/4-13/3Fiscal year11/4-12/32) Sales by RegionNote: % indicates the proportion of total consolidated net sales.19March 312013PVC/Chlor-AlkaliBusinessSiliconesBusinessSpecialityChemicalsBusiness458.9 165.0 156.3March 312012394.1 156.2ConsolidatedtotalSemiconductorSilicon BusinessElectronics &Functional MaterialsBusinessDiversifiedBusinessCorporateassets1,920.9514.2 203.0 149.5 274.0213.5 1,809.8140.2 517.3 236.9 151.63) Assets by Segments (Billions of Yen)(Billions of Yen)
  24. 24. Appendix (For reference)20718 706750843 841982902968754720 747706 7288891,036400500600700800900100011001200Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar.2012 20134) Housing Starts in the U.S. (Seasonally Adjusted Annual Rate)(thousands)* Source from United States Department of Commerce2003 2004 2005 2006 2007 2008 2009 2010 2011 20121,848 1,956 2,068 1,801 1,355 906 554 587 609 781(thousands)Annual Trend of the Housing Starts in the U.S. (10 years history)
  25. 25. Appendix (For reference)21Apr.-Jun. Jul.-Sep. Oct.-Dec.(2012)Jan.-Mar.Apr.-Jun. Jul.-Sep. Oct.-Dec.(2013)Jan.-Mar.59,000 55,000 51,700 54,100 60,600 49,800 55,800 63,500* Calculated by Shin-Etsu Chemical (source from Ministry of Finance Japan)FY20122011/4-2012/3FY20132012/4-2013/35) Trend of Naphtha Price Traded in Japan(Yen / KL)(est)
  26. 26. Appendix (For reference)22* Source from Ministry of Economy, Trade and Industryand Japan Society of Newer Metals6) The Statistics Data of Silicon Wafers Produced in Japan (for each size)Waferproduction quantity (thousand pieces)Wafersales quantity (thousand pieces)Inventory ratio010203040506070809005001,0001,5002,0002,5003,0001 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 22011 2012 201312 inch Wafer Inventory ratio(%)02040608010012005001,0001,5002,0002,5003,0001 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 22011 2012 20138 inchWafer02040608010012005001,0001,5002,0002,5001 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 22011 2012 20136 inch Wafer Inventory ratio(%)Production and Sales(thousands piece)Production and Sales(thousands piece)Production and Sales(thousands piece) Inventory ratio(%)
  27. 27. 7) Recent Topics (Apr. 1, 2012~Apr. 23, 2013)May. 2012 SE-Tylose, a 100%-owned subsidiary of Shin-Etsu Chemical Co., Ltd. decided to establish amanufacturing plant for hydroxyethyl cellulose (HEC) in the U.S.Sep. 2012 *Shin-Etsu Chemical announced a price increase for PVC supplied to customers in Japan due to risesin the price of its raw materials.Oct. 2012 Shin-Etsu Chemical entered into a Share Purchase Agreement concerning the purchase of sharesof NanoCarrier Co., Ltd.Nov. 2012 Shin-Etsu Chemical announced agreement formalized on the reorganization of Kashima Chlorine &Alkali Co., Ltd. and Kashima Vinyl Chloride Monomer Co., Ltd.Dec. 2012 *Shin-Etsu Chemical announced a price increase for PVC supplied to customers in Japan due to risesin the price of its raw materials.Feb. 2013 Shin-Etsu Chemical developed a high refractive index silicone encapsulating material and silicone-mounting board for high-brightness LEDs.★ For details other than *, please refer to news releases related to these matters on our website at http://www.shinetsu.co.jp/e/23
  28. 28. 8) Progress of capital investment projects outside JapanSimcoa Operations Pty. Ltd.(Western Australia, Australia)・Completed expansion of silicon metal productioncapacity from 32,000 to 48,000 tons.・ Started test runs from Sep. 2012, and now isoperating at full utilization.SE-Tylose GmbH & Co. KG(Louisiana, U.S. )・ Construction underway of a manufacturingplant for hydroxyethyl cellulose (HEC) with aproduction capacity of 9,000tons/year.・ Start of operations: Scheduled in 2014.Shin-Etsu Silicone (Nantong) Co., Ltd.(Nantong, Jiangsu Province, China)・Started operations at some facilities in its plant,which has a capacity of 25,000 tons/year for siliconerubber products.・Have been operating to meet the market demand.Shin-Etsu (Jiangsu) OpticalPreform Co., Ltd.(Jiangyin, Jiangsu Province, China)・ Completed a plant to produce theequivalent of 8,000,000 km/year of opticalfiber.・Started test runs in Feb. 2012, and now isoperating at full utilization.Shin-Etsu MagneticMaterials Vietnam Co., Ltd.(Hai Phong Province, Vietnam)・Completed construction of a plantfor the separation and refinement ofrare earths in Mar. 2013 and now testrun is being conducted.Shin-Etsu (Changting) Technology Co., Ltd.(Longyan, Fujian Province, China)・Completed construction of a 3,000tons/year-capacity plantfor magnet alloys used for the manufacture of rare earthmagnets, and started production and sales in Mar. 2013.Shin-Etsu ElectronicsMaterials Vietnam Co., Ltd.(Hung Yen Province, Vietnam )・Will shortly complete construction of aplant for silicone-based encapsulatingmaterials and reflectors for LEDs.・Test runs will start soon after thecompletion.(As of Apr. 25, 2013)24

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