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Mitsui Forecasts Record Annual Loss

10:17 AM MDT | April 24, 2009

Mitsui Chemicals has announced that its net losses for the fiscal year ended March 31, 2009 will be greater than previously forecast. The company projects annual net losses of ¥95 billion ($960 million), having previously forecast losses of ¥13 billion. The change is due partly to a tax expense resulting from a reversal of deferred tax assets, the company says. “This figure is a record loss for the Mitsui Chemicals group,” says Mitsui president and CEO Kenji Fujiyoshi. Mitsui says its operating losses for the year ended March 31 will be...

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