Major Japanese Firms Report Improved Earnings

Major Japanese chemical companies swung to profit or reported huge rises in earnings, and recorded higher sales for the fiscal year ended March 31, 2011 mainly due to stronger demand and higher selling prices. Fourth-quarter figures were not disclosed. The companies say, however, that they have been severely impacted by the earthquake and tsunami that struck the northeast of Japan on March 11 (p. 19). Mitsubishi Chemical reported a more than six-fold increase in net profits for the fiscal year ended March 31, compared with the previous fiscal year, to ¥83.6...

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