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Teijin Swings to Profit

10:12 PM MDT | October 31, 2010 | Deepti Ramesh

Teijin has recorded a net profit of ¥11.5 billion ($142 million) for the fiscal first half ended September 30, 2010, compared with a net loss of ¥25.8 billion in the corresponding period of the previous fiscal year. Sales increased 11% to ¥399.8 billion. The higher sales reflect an increase in the company’s materials businesses, bolstered by a recovery in demand, Teijin says. This offset the negative impact of other factors such as the withdrawal from loss-making businesses, which pushed down sales in the polyester fibers segment. The return to...

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