Asahi Kasei Reports Fall in Profits and Sales

Asahi Kasei reported an 18% decline in net profits, to ¥20.6 billion ($229 million), for the nine months ended December 31, 2009, compared to the year-ago period, Sales decreased by 16%, to ¥1.02 trillion, mainly due to lower market prices in the chemicals segment as an effect of declining feedstock prices, the company says. Quarterly results were not disclosed. The chemicals business segment of Asahi Kasei recorded a 22% fall in sales, to ¥452 billion. Operating profit for the segment however increased by 103%, to about ¥22 billion...

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