Mitsubishi Chemical lowers 2016 targets

Mitsubishi Chemical has lowered its financial targets for the fiscal year ending 31 March 2016 because of a deterioration in the business environment. The revised targets form part of a five-year management plan; the original targets were announced in December 2010. Mitsubishi expects to report operating profits of ¥280 billion ($3 billion) compared with a previously announced operating-profit target of ¥400 billion. The original plan included a total investment of about ¥1 trillion—now lowered to ¥840 billion—in the company’s...

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