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Mitsubishi reports huge rise in profits but cuts full-year earnings projection

4:45 AM MST | February 5, 2014 | Deepti Ramesh

Mitsubishi Chemical Holdings, the parent company of Mitsubishi Chemical, says net profits increased more than fourfold in its fiscal first nine months, ended 31 December 2013, compared with the year-ago period, to ¥37.38 billion ($369 million). Nine-month sales increased 7.6%, to ¥2.48 trillion. Operating profits for the nine-month period increased by 19.3%, to ¥87.78 billion. During the first nine months of the fiscal year, the company's performance products and industrial materials segments did not see a full recovery in demand from overseas...

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