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<br />e
<br />
<br />e
<br />
<br />e
<br />
<br />NCOME
<br />
<br />NON-CONSOLIDATED ST.MENTS OF
<br />NISSAN CHEMICAL INDUSTRIES, LTD.
<br />Years ended March 31, 1997, 1996 and
<br />
<br />1995
<br />
<br />Thousands of
<br />u.s. Dollars
<br />(Note 4)
<br />1997
<br />
<br />Millions of Yen
<br />
<br />Do 0 III
<br />iViSIOn
<br />
<br />Agricultural
<br />
<br />in
<br />
<br />Steady sales of new agrochemical products
<br />the United States and European markets
<br />
<br />Sales of the Agricultural Division totaled \150,381
<br />million (US$406 million), an increase of 3.2%
<br />
<br />
<br />I
<br />1
<br />,
<br />i
<br />"
<br />"
<br />
<br />the coming
<br />term. We
<br />
<br />expect that
<br />increases in the
<br />
<br />production
<br />
<br />capacities for
<br />
<br />$816,180
<br />540,258
<br />275,923
<br />200,677
<br />75,246
<br />
<br />1995
<br />
<br />\\"93,987
<br />63,752
<br />30,235
<br />23,375
<br />6,860
<br />
<br />1996
<br />
<br />\'97,098
<br />65,410
<br />31,688
<br />23,622
<br />8,066
<br />
<br />1997
<br />
<br />YI01,288
<br />67,046
<br />34,242
<br />24,904
<br />9,338
<br />
<br />Net sales
<br />Cost of sales
<br />
<br />Gross profit
<br />
<br />Selling, general and administrative expenses
<br />
<br />7,043
<br />(7,413)
<br />
<br />495
<br />(1,774)
<br />
<br />682
<br />(1,213)
<br />
<br />874
<br />(920)
<br />
<br />Operating income
<br />
<br />income (expenses):
<br />Interest and dividend income
<br />
<br />Other
<br />
<br />16
<br />
<br />(601)
<br />
<br />28
<br />
<br />2
<br />
<br />of
<br />
<br />Interest expense
<br />Gain (loss) on sales
<br />
<br />(6,156)
<br />
<br />(57)
<br />2
<br />
<br />(764)
<br />
<br />(488)
<br />(902)
<br />7,140
<br />
<br />over FY96 and accounting for 49.7% of total
<br />sales, down 0.5 percentage points.
<br />In the domestic market, sales of herbicides for
<br />
<br />Colloidal-relaled products al warehouse
<br />
<br />and the
<br />in
<br />
<br />intermediate and TEPIC,
<br />start of operations at the organosilicasol plant
<br />Houston, U.S. will contribute to our business
<br />results for the next term.
<br />
<br />prostaglandin
<br />pharmaceutical
<br />
<br />(3,932)
<br />(7,268)
<br />57,534
<br />
<br />62
<br />(695)
<br />(556)
<br />3,791
<br />
<br />(507)
<br />(1,087)
<br />5,914
<br />
<br />income taxes
<br />
<br />paddy rice declined due to severe business
<br />conditions in Japan's agricultural industry. Sales
<br />
<br />32,482
<br />
<br />2,022
<br />
<br />3,397
<br />
<br />4,031
<br />
<br />(Note 9)
<br />
<br />Income taxes
<br />
<br />
<br />$25,052
<br />
<br />\'1,769
<br />
<br />\'2,517
<br />
<br />Y3,109
<br />
<br />Net income (Note 15)
<br />
<br />The accompanying notes are ~n integral part of these statements.
<br />
<br />marketable securities and
<br />investments in securities, net
<br />Write-down of marketable securities and
<br />investments in securities ...
<br />Gain on sales of property, plant and equipment ....
<br />Loss on disposal of property, plant and equipment
<br />Other, net .......................
<br />Income before
<br />
<br />Net Sales
<br />Chemicals Div.
<br />
<br />
<br />\.
<br />
<br />9
<br />
<br />Agrochemicals lineup
<br />
<br />r
<br />I
<br />I
<br />
<br />16
<br />
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