Teijin Reports Loss in First Half

Teijin reported a net loss of ¥25.8 billion ($286 million) for the fiscal first half ended September 30, 2009, compared with a net profit of ¥415 million in the year-ago period. Sales decreased by 26.5%, to ¥360 billion. Operating profits fell 82%, to ¥2.8 billion. The steep decline in sales occurred largely due to deteriorating sales in the company’s materials businesses, notably in the synthetic fibers and the films and plastics segments, and in the trading and retail segment, Teijin says. Weak demand in Teijin’s materials businesses...

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