(RTTNews) - Resonac Corp. (SHWDY, 4004.T) Friday said that it would be increasing the sales prices of copper-clad laminates and prepregs by around 30 percent, beginning March 1.
The company said that it took the decision to hike prices, in light of the sharp increase in raw material prices, like copper foil and glass cloth, which are a result of supply-demand imbalances.
Labor and transportation costs for these items, which are used for electronic circuit boards, have also increased significantly, resulting in an extremely challenging business environment, the Japanese chemical company said in an official statement.
Resonac Corp added that it had taken many cost-cutting measures earlier, but they did not bring about the desired results.
On the OTC Markets, SHWDY.PK ended Thursday's trading at $44.45, up $1.82 or 4.3 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
