Japanese Firms Report Mixed Results

Late-reporting Japanese chemical companies posted a mixed set of results for the quarter ended June 30, 2011. Tosoh’s net profits for its fiscal first quarter ended June 30 increased more than seven-fold compared with the year-ago period, to ¥6.3 billion ($82 million). Sales increased 18%, to ¥183.3 billion. Tosoh’s petrochemical business reported a 25.4%, rise in first-quarter sales compared with the year-ago period, to ¥54.2 billion. Operating profits for the business more than doubled, to ¥3.9 billion. Sales of ethylene and...

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