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Asahi Kasei Reports Huge Rise in Profits

11:46 PM MDT | November 1, 2010 | Deepti Ramesh

Asahi Kasei reported a more than six fold increase in net profits for its fiscal first half ended September 30, 2010, to ¥28.5 billion ($354 million), compared with the year-ago period. Sales increased 16%, to about ¥765 billion. The strong results reflect a substantially greater performance buoyed by higher market prices and increased overseas demand in the chemicals business segment of the company and a favorable performance in the company’s homes and electronics segments, Asahi says. Asahi’s chemicals segment recorded a 24.4% rise in...

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