Asahi Kasei Reports Fall in Profits

Asahi Kasei reported a 7.5% fall in net profits for the fiscal year ended March 31, 2012, compared with the previous fiscal year, to ¥55.7 billion ($699 million). Sales increased 1.1%, to ¥1.57 trillion, mainly due to a strong performance in the company’s homes segment. The Japanese economy slowed down significantly during the fiscal year, with the global economy being affected by the sovereign debt crisis in Europe, and with exports to China and other emerging markets slowing down in the second half of the fiscal year after having been relatively...

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