15 May 2009 10:22 [Source: ICIS news]
TOKYO (ICIS news)--Japanese refiner Tonen General Sekiyu said on Friday its first quarter net profits declined 81% year-on-year to Y7.66bn ($80m) as demand for basic chemical products plunged.
Its operating income for the period fell 79% year on year to Y13.1bn, with its chemical segment reversing into losses of Y2.26bn from profits of Y9.31bn in the same period last year.
Tonen General's oil segment, meanwhile, had a net profit of Y15.3bn in the three-months-toMarch period, down 71% year-on-year.
US firm Exxon Mobil holds a 50.02% stake in the refiner
($1 = Y95.65)
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