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Sluggish demand in China impacts Mitsubishi Chemical results; profits fall

8:06 AM MDT | May 9, 2013 | Deepti Ramesh

Mitsubishi Chemical reports a 47.5% fall in net profits for the fiscal year, ended 31 March, compared with the previous fiscal year, to ¥18.59 billion ($188.6 million). Full-year sales decreased 3.7%, to ¥3.08 trillion. Operating profits decreased 30.8%, to ¥90.2 billion. The Mitsubishi Chemical group faced a difficult business environment during the fiscal year, the company says. Demand in China and other overseas markets was sluggish because of the global economic slowdown and the appreciation of the Japanese currency, which continued nearly until...

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