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Teijin swings to profit

4:50 AM MDT | November 1, 2013 | Deepti Ramesh

Teijin reports a net profit of ¥4.57 billion ($46.7 million) in the company's fiscal first half, ended 30 September, compared with a net loss of ¥593 million in the corresponding period of the previous fiscal year, partly due to a gain on sales of investment securities, the company says. First-half sales increased 6.5%, to ¥381.8 billion, primarily because of the positive impact of the depreciation of the Japanese currency, Teijin says. Operating profits decreased 29.6%, however, to ¥5.18 billion, as a worsening market environment and fierce...

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