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Mitsui Chemicals Swings to Loss as Plant Accident Weighs on Sales, Earnings

5:28 AM MDT | August 8, 2012 | Ian Young

Mitsui Chemicals posted a ¥2.2-billion ($28 million) net loss in its fiscal first quarter, ended June 30, 2012, compared with a net profit of ¥12.3 billion in the year-earlier quarter, on sales down 34%, to ¥352.3 billion. Operating profits declined 15% year-on-year (YOY), to ¥6.9 billion. The results reflect a severe operating environment, despite a rebound in personal consumption in Japan following the earthquake and tsunami last year. "These harsh conditions were mainly attributable to ongoing economic disruptions caused by the European...

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