Marubeni posts 43% drop in Q1 net profit for petchem segment

30 July 2009 10:40  [Source: ICIS news]

TOKYO (ICIS news)--Japanese trading house, Marubeni Corp, on Thursday posted a 43% year-on-year decline in its first-quarter net profit for its chemicals segment due to a decline in petrochemical products prices, the firm said.

The chemicals segment’s net profit for the first three months ended 30 June was yen (Y)1.42bn ($150m), down from Y2.5bn the same time a year ago.

The segment recorded a 79% decrease in operating profit to Y925m from Y4.41bn in the previous year, the company said.

Marubeni’s overall net profit for the first quarter was down 47% year on year to Y26.8bn from Y50.8bn, the company added.  

($1 = Y94.98) 

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By: Tomomi Yokomura
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