Prompted by the limited growth potential at home, Japanese agricultural chemicals manufacturers are seeking greener pastures by teaming up with leading U.S. and European players.
Next year, Nissan Chemical Industries will expand sales channels in Asia for its proprietary rice-paddy herbicide. The company will also start supplying a herbicide for vegetable fields to companies in Europe.
Its sales came to 45.7 billion yen ($367.8 million) for the year ended March 2015, up 10 billion yen or so from two years earlier. For the current year through March 2016, the company anticipates 7% sales growth to 49.1 billion yen.
The key driving force behind the increase has been overseas markets. Nissan Chemical's herbicides are sold in Europe by Germany's Bayer, while U.S. company Dow Chemical handles sales of the company's herbicides and germicides throughout Asia, Europe and South America.
Read the full article at the Nikkei Asian Review
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