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Teijin swings to profit

12:06 AM MDT | August 2, 2013 | Deepti Ramesh

Teijin reports a net profit of ¥233 million ($2.3 million) in the company's fiscal first quarter, ended 30 June, compared with a net loss of ¥1.63 billion in the corresponding period of the previous fiscal year, mainly due to a decline in extraordinary losses, the company says. First-quarter sales increased 5.2%, to ¥183.5 billion, primarily because of the positive impact of the depreciation of the Japanese currency, Teijin says. Operating profits decreased 38.2%, to ¥1.83 billion, as a worsening market environment and rising fuel and raw...

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