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Teijin Reports 52.4% Fall in Profits

1:15 AM MDT | May 9, 2012 | Deepti Ramesh

Teijin recorded a 52.4% fall in net profits for the fiscal year ended March 31, 2012, compared with the previous fiscal year, to ¥11.9 billion ($150 million). Sales increased 4.7%, to ¥854.4 billion. Operating profits for the fiscal year decreased 29.9%, to ¥34 billion, mainly due to supply chain disruptions caused by natural disasters such as the earthquake in Japan and the floods in Thailand in 2011, and due to flagging conditions in electronics markets worldwide, which caused a deterioration of results in the films and plastics segment, Teijin...

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