Japanese Firms Report Mixed Nine-Month Results

Major Japanese chemical companies reported mixed financial results for the fiscal first nine months ended December 31, 2011. Firms including Mitsubishi Chemical, Asahi Kasei, and Shin-Etsu Chemical reported falling profits, and Sumitomo Chemical and Mitsui Chemicals swung to a loss. Firms including Toray Industries and Ube Industries reported higher earnings. The earthquake and tsunami that struck Japan in March 2011, the debt crisis in Europe, and the strengthening Japanese currency affected each company’s financial performance. Third-quarter figures were not...

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