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Asahi Kasei Reports Rise in Earnings; Sumitomo Swings to Profit; and Teijin’s Loss Narrows

12:43 AM MDT | May 10, 2010 | Deepti Ramesh

Asahi Kasei, Sumitomo Chemical and Teijin have reported financial results for the fiscal year ended March 31, 2010. Asahi Kasei reported a 433% rise in net profits for the fiscal year ended March 31, 2010, to ¥25.3 billion ($272 million), compared with the previous fiscal year. Sales however decreased by nearly 8%, to ¥1.43 trillion, partly due to lower market prices in the company’s chemicals segment during the first half of the fiscal year as an effect of decreased feedstock prices. The operating environment for Asahi Kasei, its subsidiaries and...

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