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<br />8
<br />
<br />17
<br />
<br />The accompanying notes aTe an integral part of these statements.
<br />
<br />turned upward and posted satisfactory
<br />Overall, domestic sales increased.
<br />
<br />performance
<br />specialty
<br />chemicals in
<br />
<br />of
<br />hand,
<br />sales.
<br />
<br />acid and methanol were sluggish. Sales
<br />melamine and ammonia, on the other
<br />
<br />focus on high-
<br />
<br />percentage
<br />points over
<br />FY96.
<br />We will
<br />continue to
<br />
<br />
<br />Product observation room
<br />
<br />Balance at 31st
<br />
<br />Net income
<br />Cash dividends paid
<br />Transfer to legal reserve
<br />Directors' and statutory auditors' bonuses
<br />
<br />March,
<br />
<br />1997
<br />
<br />179,075
<br />
<br />$131,676
<br />
<br />$83,320
<br />
<br />$12,321
<br />
<br />766
<br />
<br />$93,836
<br />
<br />25,052
<br />(7,212)
<br />(766)
<br />(435)
<br />
<br />Balance at 31st
<br />
<br />March,
<br />
<br />1996
<br />
<br />(Thousands)
<br />179,075
<br />
<br />Number of
<br />shares of
<br />common stock
<br />
<br />~Thousands of U.S. dollars (Note 4))
<br />$131,676 $83,320 $11,555
<br />
<br />Additional
<br />paid-in
<br />caoital
<br />
<br />$77,196
<br />
<br />Retained
<br />earnings
<br />
<br />
<br />Packaging of high-purity sulfuric acid
<br />in a clean room
<br />
<br />'.
<br />
<br />
<br />W
<br />
<br />~~ld093 I
<br />.~
<br />
<br />SNOWTEX, used as a polishing
<br />agent for electronic materials
<br />and as a binder for ceramics,
<br />
<br />accounting for 48.5% of total
<br />sales, up 0.3 percentage points.
<br />In the domestic market,
<br />
<br />In export markets, demand was briSK In ASia,
<br />which is undergoing dramatic economic growth,
<br />and spurred a rise in sales of high-performance
<br />specialty chemicals, such as SUNEVER and TEPIC.
<br />Helped also by a depreciation of the yen, we were
<br />able to increase total export sales. The share of
<br />export sales to total divisional sales was 17.0%,
<br />up 0.7
<br />
<br />Common
<br />stock
<br />
<br />Leagal
<br />reserve
<br />
<br />Balance at 31st
<br />
<br />Net income
<br />Cash dividends paid
<br />Transfer to legal reserve
<br />Directors' and statutory auditors'
<br />
<br />SUNEVER polyim"ide for LCD
<br />alignment coating, TEPIC, an
<br />special epoxy compound, and
<br />high-purity chemicals achieved good sales,
<br />mostly in the electronics field. Sales of basic
<br />chemicals, which account for the major portion
<br />of total chemical sales, were mixed. Sales of nitric
<br />
<br />March, 1997
<br />
<br />bonuses
<br />
<br />179,075
<br />
<br />Yl6,341
<br />
<br />\1'10,340
<br />
<br />\1'1,529
<br />
<br />Yl1,645
<br />
<br />3,109
<br />(895)
<br />(95)
<br />(54)
<br />
<br />Sales of the Chemicals Division
<br />amounted to \1'49.,087 million
<br />(US$ 396 million), a 5.0%
<br />increase over FY96 and
<br />
<br />Favorable sales of high-performance specialty
<br />chemicals for the electronics industry
<br />
<br />Chemicals Division
<br />
<br />
<br />95
<br />
<br />Balance at 31st
<br />
<br />Net Income
<br />Cash dividends paid
<br />Transfer to legal reserve
<br />Directors' and statutory auditors'
<br />
<br />March, 1996
<br />
<br />bonuses
<br />
<br />179,075
<br />
<br />16,341
<br />
<br />10,340
<br />
<br />1,434
<br />
<br />94
<br />
<br />9,580
<br />
<br />2,517
<br />(895)
<br />(94)
<br />(49)
<br />
<br />Balance at 31st
<br />
<br />Net income
<br />Cash dividends paid
<br />Transfer to legal reserve
<br />Directors' and statutory auditors' bonuses
<br />
<br />March, 1995
<br />
<br />179,075
<br />
<br />16,341
<br />
<br />10,340
<br />
<br />1,340
<br />
<br />95
<br />
<br />8,102
<br />
<br />1,769
<br />(895)
<br />(95)
<br />(44)
<br />
<br />March,
<br />
<br />(Thousands)
<br />179,075
<br />
<br />\1'16,341
<br />
<br />(Millions of Yen)
<br />YlO,340 Yl,245
<br />
<br />\1'7,368
<br />
<br />Shipping industrial chemicals
<br />at plant-side station
<br />
<br />Balance at 31st
<br />
<br />1994
<br />
<br />Number of
<br />shares of
<br />common stock
<br />
<br />Common
<br />stock
<br />
<br />Additlonai
<br />paid.in
<br />caoital
<br />
<br />Legal
<br />reserve
<br />
<br />Retained
<br />earnings
<br />
<br />IR~DIEW OlF Ol?rEIRA1rDOINIS
<br />
<br />e
<br />
<br />e
<br />
<br />NON-CONSOLIDATED .TEMENTS OF SHAREHOLDE~EQUITY
<br />NISSAN CHEMICAL INDUSTRIES, LTD.
<br />
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