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Asahi Kasei reports fall in profits

7:35 AM MST | February 5, 2013 | Deepti Ramesh

Asahi Kasei reported a 25.9% fall in net profits for the fiscal first 9 months, ended 31 December 2012, compared with the year-ago period, to ¥35.6 billion ($386 million). Sales increased 2.8%, to ¥1.2 trillion. The global economic situation remained challenging during April–December 2012, with the continuing effects of the European sovereign debt crisis and the slowing growth in China and other emerging economies, Asahi says. Although reconstruction demand following the earthquake and tsunami that hit Japan in March 2011 was a positive factor, the...

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