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Mitsui and Sumitomo Report Losses in First Half

7:14 AM MDT | October 30, 2009 | Deepti Ramesh

Sumitomo Chemical recorded a net loss of ¥3.5 billion ($38 million) for the fiscal first-half ended September 30, 2009, compared with a net profit of ¥6.3 billion in the year-ago period. Sales decreased by 27%, to about ¥735 billion, due to challenging business conditions, the company says. Mitsui Chemicals recorded a net loss of ¥31.4 billion for the fiscal first half, compared with a net profit of ¥7.6 billion in the corresponding period of the previous fiscal year, on sales down 39%, to ¥550 billion. Revenues at Mitsui’s basic...

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