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Sumitomo Chemical swings to profit

12:41 AM MST | January 31, 2014 | Deepti Ramesh

Sumitomo Chemical reports a net profit of ¥24.55 billion ($239 million) for the fiscal first nine months, ended 31 December 2013, compared with a net loss of ¥40.69 billion in the year-ago period. Nine-month sales increased 12.9%, to ¥1.60 trillion. Figures for the third quarter ended 31 December were not disclosed. Sumitomo's basic chemicals segment reports a 5.9% rise in nine-month sales compared with the year-ago period, to ¥205.2 billion. The segment reports an operating loss of ¥7.47 billion in the nine-month period, compared with an...

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