Japan's Mitsubishi Corp posts 10% decrease in chemicals net profit

10 May 2011 07:48  [Source: ICIS news]

TOKYO (ICIS)--Japanese trading firm Mitsubishi Corp has on Tuesday posted a full-year net profit of yen (Y) 29.1bn ($362m) in its chemicals segment, a 10% decrease from Y32.4bn the previous year, the company said.

This reflected the absence of a gain on reversal of deferred tax liabilities of Mitsubishi’s petrochemical business-related subsidiary recorded in the previous fiscal year, the firm said.

Its operating transactions in the full year to 31 March 2011 in the chemicals segment totaled Y2,027.4bn, up 13% from Y1,791.6bn the year before.

Mitsubishi’s overall net profit during the full year rose 69% to Y463.2bn from Y274.8bn year on year, while its operating profit increased 74% to Y316.1bn from Y182.3bn.

Its total operating transactions were up 13% to Y19,233.4bn from Y17,102.8bn the previous year.

($1 = Y80.33)

By: Tomomi Yokomura
+65 6780 4359

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