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Showa Denko KK Reports Strong Financial Turnaround in 2024
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Showa Denko KK Reports Strong Financial Turnaround in 2024

Showa Denko KK ( (SHWDF) ) has released its Q3 earnings. Here is a breakdown of the information Showa Denko KK presented to its investors.

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Showa Denko KK, a key player in the chemical industry, focuses on producing and distributing chemical products with a diverse portfolio that includes semiconductor and electronic materials, automotive products, and more. For the first three quarters of 2024, Showa Denko KK reported a remarkable turnaround with significant improvements in financial performance compared to the same period in 2023. The company achieved a 9% increase in net sales, reaching ¥1,027,549 million, and turned around its operating and ordinary incomes, reporting positive figures after previous losses. The notable performance was supported by gains in semiconductor and electronic materials, and innovation enabling materials segments, driven by increased sales volumes and improved market conditions. Operating income rose significantly to ¥58,885 million, and net income attributable to owners of the parent surged to ¥50,770 million, aided by strategic asset sales. Despite challenges in the chemicals segment due to price declines in graphite electrodes, the company managed to enhance its overall profitability. Looking forward, Showa Denko KK maintains a cautiously optimistic outlook, revising its full-year forecast upwards for operating and ordinary incomes, reflecting confidence in continued market recovery and strategic positioning in key segments.

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