Teijin reports huge fall in profits

Teijin reported a 94.3% fall in net profits for its fiscal first 9 months, ended 31 December 2012, compared with the year-ago period, to ¥862 million ($9 million). Nine-month sales decreased 8.8%, to ¥543 billion, because of the listless global economic growth, which hampered sales in the company’s materials businesses, Teijin says. Economic conditions worldwide continued to show signs of deceleration during the nine-month period, as the impact of persistent economic deterioration in Europe, already weakened by austerity measures, particularly in southern...

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