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Teijin reports rise in profits

3:45 AM MDT | August 4, 2014 | Deepti Ramesh

Teijin reports more than a sevenfold increase in net profits for its fiscal first quarter, ended 30 June, compared with the year-ago quarter, to ¥1.64 billion ($16 million). First-quarter sales decreased 0.9%, to ¥181.8 billion. Operating profits nearly tripled, to ¥4.81 billion, as a result of restructuring initiatives, Teijin says. Sales were generally favorable, particularly in the materials businesses and despite the recent discontinuation of in-house production and sale of para-xylene, Teijin says. Teijin stopped producing p-xylene at its...

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