Japanese Firms Report Mixed Full-Year Results

Major Japanese chemical companies reported mixed financial results for the fiscal year ended March 31, 2012. Firms including Mitsubishi Chemical, Sumitomo Chemical, Asahi Kasei, and Teijin reported falling profits, and Mitsui Chemicals swung to a loss. Companies including Toray Industries, Shin-Etsu Chemical, DIC Corp., and Ube Industries reported higher earnings. Two natural disasters that occurred last year—the earthquake and tsunami that struck Japan, and the floods in Thailand—together with the slowing global economy and the strengthening Japanese...

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