DIC reports lower revenue on weak demand

摘要

DIC Corp.(Tokyo,Japan)reports net sales for the first nine months of 2020 down 21.3% year on year(YOY)to ￥514.3 billion($4.9 billion).Profit declined by 24% year on year(YOY)to ￥13.9 billion due to one-time costs associated with the acquisition of BASF's worldwide pigments business in August 2019.The cost of the deal was $1.3 billion.Operating income decreased 13.2% YOY to ￥25.5 billion on currency translation.The company's packaging and graphic segment reported an operating income of ￥13.5 billion,up by 3.5% YOY.Net sales dropped 8.3% YOY to ￥286.2 billion.In materials for the food packaging sector,sales of packaging inks advanced in Asia,where demand was steady,and were flat in the Americas and Europe.