Asahi Kasei Reports Big Fall in Profits; Chemicals Segment Causes Revenues to Fall

Asahi Kasei recorded an 82% fall in net profits for the fiscal first half ended September 30, 2009, to ¥4.2 billion ($47 million) compared with the year-ago period, on sales down 22%, to ¥659 billion. The fall in overall sales was mainly due to lower market prices in Asahi Kasei’s chemicals segment, the company says. The operating environment for Asahi Kasei and its consolidated subsidiaries remained challenging during the April-September period, the company says. “Although results for the period were substantially better than previously...

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