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Teijin reports huge rise in profits

11:04 AM MST | February 3, 2014 | Deepti Ramesh

Teijin reports nearly a sixfold increase in net profits for its fiscal first nine months, ended 31 December 2013, compared with the year-ago period, to ¥5.02 billion ($49.2 million), due to the impact of extraordinary items, which include a gain on sales of investment securities and an impairment loss on fixed assets, Teijin says. Nine-month sales increased 6.5%, to ¥578.2 billion, spurred by the weakening of the Japanese currency, Teijin says. Operating profits fell 4.6%, to ¥9.7 billion, as a deterioration of the supply-demand situation and...

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