Teijin swings to loss

Teijin reported a net loss of ¥593 million ($7 million) in its fiscal first half, ended 30 September 2012, compared with a net profit of ¥9.2 billion in the year-ago period. First-half sales decreased by 9%, to ¥358.3 billion, partly because of weak global economic growth, which hampered sales in the company’s materials businesses, Teijin says. During the six-month period, the European economies slid into negative growth, while in the United States the pace of growth was sluggish despite positive indications in key areas such as consumer...

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