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Teijin Swings to Loss

12:42 AM MDT | August 2, 2012 | Deepti Ramesh

Teijin reported a net loss of ¥1.63 billion ($21 million) in the fiscal first quarter ended June 30, 2012, compared with a net profit of ¥6.27 billion in the corresponding period of the previous fiscal year. Sales decreased 8%, to ¥174.3 billion, due to slowing economic growth in Europe and the U.S., which hampered sales in the company’s aramid fibers and other materials businesses, and also due to the impact of the revision of drug reimbursement prices on results in the healthcare business segment, Teijin says. The net loss was largely due to...

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