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Mitsubishi Chemical reports huge rise in profits

12:37 AM MDT | May 12, 2014 | Deepti Ramesh

Mitsubishi Chemical Holdings, the parent of Mitsubishi Chemical, says its net profits increased by 73.4% in the full fiscal year, ended 31 March, compared with the previous fiscal year, to ¥32.2 billion ($316 million). Full-year sales increased 13.3%, to ¥3.49 trillion. Operating profits for the fiscal year increased by 22.4%, to ¥110.4 billion. Fourth-quarter figures have not been disclosed. During the fiscal year, overseas demand recovered mildly in the company's performance products and industrial materials segments despite weak economic recovery...

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