Earthquake Dents Japanese Companies’ Results

The top chemical companies in Japan reported mixed financial results for their fiscal first quarter ended June 30, 2011. Companies including Asahi Kasei and Toray Industries reported a huge improvement in earnings, but firms such as Mitsui Chemicals and Shin-Etsu Chemical recorded a fall in profits, while Mitsubishi Chemical reported flat earnings. Results were negatively impacted by the earthquake and tsunami that struck the northeast of Japan last March, and by the strength of the Japanese currency. Mitsubishi Chemical reported flat net profits of ¥24.5...

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