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Mitsui Chemicals swings to profit

6:10 AM MDT | August 1, 2013 | Deepti Ramesh

Mitsui Chemicals posted net profits of ¥4.7 billion ($48 million) in its fiscal first quarter, ended 30 June, compared with a net loss of ¥2.2 billion in the year-earlier quarter, on sales up 3%, to ¥363.1 billion. Sales increased because of the rise in selling prices of products in response to an increase in the price of naphtha and other raw materials as well as the weaker Japanese currency, Mitsui says. Earnings improved partly because of better trading conditions in the company's petrochemicals business and higher sales volume in the functional...

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