Both Air Water Inc. and Iwatani Corporation have released financial results for the first three quarters of fiscal year 2017, having carved out diverse results after following different industry trends.
For Air Water, net income reached ¥23bn ($212m), down by 0.4% comparatively. However, the Japanese major saw a clear recovery movement in sales of its industrial gases after improved cost reductions created a 7.4% increase in operating profit and a 5.5% increase in ordinary profit.
Its sales of industrial gases also took a remarkable upward swing for onsite gas for blast furnaces. In this segment, sales climbed by 3.9% and ordinary profit soared by 17.7%.
Air Water’s air separation gases, including oxygen, nitrogen and argon, also performed better compared to the same period of the previous year. Sales in its medical business saw a 1.9% improvement overall but a 4.9% drop in ordinary profit. In addition, the company achieved an increase in sales of medical oxygen despite a reduction in the construction of hospital facilities.
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