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4-Traders Homepage  >  Equities  >  Tokyo  >  Shin-Etsu Chemical Co Ltd    4063   JP3371200001

SHIN-ETSU CHEMICAL CO LTD (4063)
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Japan, Kazakhstan to develop rare earth metals: media

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04/29/2012 | 07:32am CET

TOKYO (Reuters) - Japan and Kazakhstan plan to sign an agreement to jointly develop rare earth metals critical to electronics and auto makers, aiming to lower dependence on China, the Asahi Shimbun daily said on Sunday.

Japan's Trade Minister Yukio Edano will meet Kazakh government officials, including President Nursultan Nazarbayev, to sign the agreement in early May, making way for Sumitomo Corp (>> Sumitomo Corp), Japan Oil, Gas and Metals National Corp and Kazatoprom to partner in rare earth extraction, the paper said.

Higher prices of rare earths from China are squeezing Japanese manufacturers of batteries and electronics, forcing them to cut usage and seek alternatives.

Japan and Kazakhstan will build a plant in Stepnogorsk, northern Kazakhstan and use technology developed by Shin-Etsu Chemical Co (>> Shin-Etsu Chemical) to isolate dysprosium, used in motors for electric and hybrid cars, from soil processed for uranium, the paper said.

The plant will go onstream as early as this summer and ship 30 tonnes of the material to Japan this year, with shipments to rise to more than 50 tonnes next year, the paper said. Japan's annual demand for the element is roughly 500 tonnes.

Japan's Trade Ministry, Sumitomo and JOGMEC officials were unavailable to comment.

The European Union, the United States and Japan have asked the World Trade Organization to settle a dispute with China over Beijing's restriction on rare earth metal exports.

(Reporting by Mayumi Negishi, Editing by Jonathan Thatcher)

Stocks treated in this article : Shin-Etsu Chemical, Sumitomo Corp
Stocks mentioned in the article
ChangeLast1st jan.
SHIN-ETSU CHEMICAL CO LTD 1.39% 11330 End-of-day quote.-4.87%
SUMITOMO CORP 2.48% 1877 End-of-day quote.-3.02%
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Financials ( JPY)
Sales 2018 1 424 B
EBIT 2018 -
Net income 2018 233 B
Finance 2018 948 B
Yield 2018 1,26%
P/E ratio 2018 20,60
P/E ratio 2019 17,69
EV / Sales 2018 2,73x
EV / Sales 2019 2,46x
Capitalization 4 829 B
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Chihiro Kanagawa Chairman
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