Mitsubishi Chemical Reports Huge Rise in Profits

Mitsubishi Chemical reported a more than six-fold increase in net profits for the fiscal year ended March 31, 2011, compared with the previous fiscal year, to ¥83.6 billion ($1.03 billion). Sales for the fiscal year increased by 26%, to ¥3.16 trillion, mainly due to a recovery in demand at the company’s performance products and industrial materials business segments, Mitsubishi says. Sales improved also because Mitsubishi Rayon became a consolidated subsidiary of Mitsubishi Chemical in March 2010. Sales at Mitsubishi’s chemicals segment...

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