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Asahi Kasei reports huge rise in profits; moves ahead with Mitsubishi Chemical cracker JV

5:10 AM MDT | August 2, 2013 | Deepti Ramesh

Asahi Kasei reports a more than six-fold increase in net profits for the fiscal first quarter, ended 30 June, compared with the year-ago quarter, to ¥19.6 billion ($198 million). Sales increased 17.8% in the first quarter, to ¥429.9 billion, because of a good performance in the company’s homes segment, higher sales volumes in the company's chemicals segment and for pharmaceutical products in the health care segment, and also because of the impact of the weaker Japanese currency, Asahi says. During the April-June period, the US economy showed signs...

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