Major Japanese Firms Report Higher Earnings and Sales

Major Japanese chemical companies swung to profit or reported huge rises in earnings, and posted higher sales for the nine months ended December 31, 2010 mainly due to stronger demand and higher selling prices. Third-quarter figures were not disclosed. Mitsubishi Chemical reported a more than seven-fold increase in net profits for the nine months, compared with the corresponding period of the previous year, to ¥80.2 billion ($983 million). Sales for the period increased by about 33%, to ¥2.37 trillion, mainly due to a recovery in demand at the company’s...

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