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Asahi Kasei reports fall in profits

12:07 AM MDT | August 1, 2014 | Deepti Ramesh

Asahi Kasei reports a 13.3% fall in net profits for the fiscal first quarter, ended 30 June, compared with the prior-year quarter, to ¥17.0 billion ($165 million). First-quarter sales increased 4%, to ¥447.1 billion. Operating profits decreased by 5.9%, to ¥26.6 billion, as a result of higher feedstock prices in chemicals operations, Asahi says. During the first fiscal quarter, the US economy continued to recover and Europe improved, but growth was slower in China and other emerging economies and political instability in certain regions...

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