Shin-Etsu Chemical's functional materials division released its first-quarter financial report, with operating income increasing 4.4% year-on-year to $177.8 million (26.7 billion yen). Although sales fell 1.3% to $710.6 million, the division's earnings still increased, which was the first growth in nearly six quarters.Consolidated operating profit increased 0.1% year-on-year to 191 billion yen (about 9.155 billion yuan), which is also the first increase in nearly 6 quarters

Shin-Etsu Chemical said it is continuing to develop high-functional products for automotive, personal care and healthcare applications. At the same time, the group said in its first-quarter report released on July 26 that it had initiated an investment of about $14 million to "strengthen its silicone business in China."