Major Japanese Firms Report Improved Earnings and Sales

Major Japanese chemical companies swung to profit or reported improved earnings, and posted higher sales for the fiscal first half ended September 30, 2010 mainly due to stronger demand and higher selling prices. Second-quarter figures were not disclosed. Mitsubishi Chemical reported a net profit of ¥44 billion ($546.5 million) for the fiscal first half, compared with a net loss of ¥2.56 billion in the year-ago period. Sales increased 37%, to ¥1.56 trillion. The increase in sales was a result of higher selling prices and a recovery in demand at the company’s...

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