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Teijin Swings to Profit

10:45 PM MST | February 3, 2011 | Deepti Ramesh

Teijin reported net profits of ¥20 billion ($245 million) for the nine months ended December 31, 2010, compared with a net loss of ¥31.5 billion in the year-ago period. Sales increased 8%, to ¥606 billion. Higher sales reflect an improvement 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 company’s withdrawal from money-losing businesses, which pushed down sales in the polyester fibers segment. The return to profitability at the net-income...

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