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Teijin Reports Rise in Profits

3:12 AM MDT | August 1, 2011 | Deepti Ramesh

Teijin has recorded a 56% rise in net profits for its fiscal first quarter ended June 30, 2011, compared with the year-ago period, to ¥6.27 billion ($80 million). Sales decreased 1.6%, to ¥189.6 billion. Net income increased because the extraordinary loss incurred by Teijin as a result of the earthquake and tsunami that struck the northeast of Japan on March 11, was relatively insignificant, the company says. The rise in sales in the company's high-performance fibers and the pharmaceuticals and home health care segments mitigated the negative impact of...

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