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Mitsui and Sumitomo Swing to Profit

10:26 PM MDT | July 30, 2010 | Deepti Ramesh

Mitsui Chemicals reported a net profit of ¥18.7 billion ($217 million) for the first quarter ended June 30, 2010, compared with a net loss of ¥16.4 billion in the year-ago period. Sales increased 30%, to ¥339.4 billion. Revenues at Mitsui’s basic chemicals segment increased 38%, to ¥102.3 billion, and the segment recorded a net profit of ¥3.6 billion compared with a net loss of ¥2.2 billion in the year-ago period. Mitsui’s petrochemicals segment reported a 41% increase in first-quarter sales, to ¥110.3 billion, and the...

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