Japanese firms report lower sales and earnings

Most of the leading Japanese chemical companies reported lower earnings and sales for the fiscal first half, ended 30 September 2012. The slowing global economy; weak demand in overseas markets, including China; and the continued appreciation of the Japanese currency affected each company’s financial performance. Only Shin-Etsu Chemical reported an improvement in earnings in the fiscal first half. Mitsubishi Chemical reported a 91% fall in net profits for the 6 months ended 30 September compared with the year-ago period, to ¥3.3 billion ($41 million)...

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