Japan’s Mitsubishi Chemical posts full-year net profit of Y83.6bn

11 May 2011 07:18  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemicals giant Mitsubishi Chemical Holdings Corporation (MCHC) said on Wednesday its full-year net profit skyrocketed to yen (Y) 83.6bn ($1.04bn) from Y12.8bn a year earlier partly on improved demand for functional products.

Its operating profit for the full year to 31 March 2011 soared to Y226.5bn from Y66.3bn, while net sales rose 26% to Y3,166.8bn from Y2,515.1bn.

Its full-year operating profit in the chemicals segment soared to Y53bn from Y6.91bn the year before, while net sales rose 14% to Y895.4bn partly because of the significant increase in terephthalic acid prices, MCHC said.

($1 = Y80.75)

By: Tomomi Yokomura
+65 6780 4359

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