Japan's DIC Records Big Fall in First-Quarter Profits

DIC Corp. (Tokyo) reported a 96.5% fall in net profits in the first quarter ended June 30, 2009, to ¥188 million ($2 million) on sales down 34%, to ¥171 billion. DIC says that in the first quarter, the company continued to operate in a harsh environment due to the global recession and that the situation was particularly challenging for the company’s overseas subsidiaries, as demand fell sharply. In the domestic market, demand remained sluggish despite signs of a gradual improvement compared with the quarter ended March 31, 2009, DIC says. The lower...

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