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Asahi Kasei Reports Rise in Profits and Sales; Mitsui Swings to Profit

2:17 AM MST | February 4, 2011 | Deepti Ramesh

Asahi Kasei reported a more than doubling in net profits for the nine months ended December 31, 2010, compared with the year-ago period, to ¥50.2 billion ($616 million), on sales up 13%, to ¥1.15 trillion. The strong results reflect higher prices and increased overseas demand in the company’s chemicals segment and a favorable performance in the company’s homes and electronics segments, Asahi says. Asahi’s chemicals segment recorded nearly a 23% rise in nine-month sales compared to the year-ago period, to ¥555 billion, and operating...

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