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Teijin Swings to Profit

1:05 AM MDT | August 2, 2010 | Deepti Ramesh

Teijin has recorded a net profit of ¥4 billion ($46 million) for the first quarter ended June 30, 2010, compared with a net loss of about ¥17.7 billion in the corresponding period of the previous fiscal year. Sales increased 16%, to ¥192.6 billion. The higher sales reflect an increase in the company’s materials businesses and in the trading and retail segment, caused by a recovery in demand, Teijin says. The return to profitability at the net income level was largely due to a sharp decrease in extraordinary losses, including a special factory...

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