Japan Firms Post Mixed Results; Earthquake Impact Continues

Major Japanese chemical companies reported mixed financial results for the fiscal first half ended September 30, 2011. Companies including Asahi Kasei and Toray Industries reported an improvement in earnings but companies such as Mitsubishi Chemical, Mitsui Chemicals and Shin-Etsu Chemical recorded falls in profits, and Sumitomo Chemical swung to a loss. The effects of the earthquake and tsunami that struck Japan in March 2011 continued to weigh on companies’ results. Second-quarter figures were not disclosed. Mitsubishi Chemical reported a 15% fall in net...

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