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Petrochemical Business of Idemitsu Kosan Reports Huge Rise in Operating Profits

3:01 AM MDT | May 2, 2012 | Deepti Ramesh

The petrochemical segment of Idemitsu Kosan reported a 1.9% rise in sales for the fiscal year ended March 31, 2012, compared with the previous fiscal year, to ¥508.1 billion ($6.32 billion). Operating profits for the petrochemical segment increased more than three-fold, to ¥12.8 billion, mainly due to improved product margins particularly for para-xylene, and cost reduction efforts, and this offset a decrease in ethylene production as a result of an accident at the company’s Shunan industrial complex, Idemitsu Kosan...

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