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Teijin swings to loss

7:52 AM MDT | May 9, 2013 | Deepti Ramesh

Teijin reports a net loss of ¥29.1 billion ($295 million) for the full fiscal year, ended 31 March, compared with a net profit of ¥11.9 billion in the previous fiscal year, due to extraordinary losses, including losses on impairment of goodwill and other factors, Teijin says. Full-year sales decreased 12.7%, to ¥745.7 billion. Operating profits decreased 63.7%, to ¥12.3 billion, as a worsening market environment hampered results in the company’s materials businesses, Teijin says. Economic conditions remained fragile worldwide during the...

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