Japan’s Mitsubishi Gas Chemical 2011 net profit falls 35%

09 May 2012 07:44  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Mitsubishi Gas Chemical (MGC) on Wednesday posted a 35% decrease in its 2011 full-year net profit to yen (Y) 12.3bn ($154.2m), partly because of a decrease in the sales volumes of many of its segments.

Operating profit for the full year ended 31 March 2012 fell by 61% year on year to Y9.08bn from Y23.4bn, while net sales was up by 0.3% at Y452.2bn compared with Y451.0bn a year earlier.

The full-year operating profit of its performance chemicals segment halved to Y7.5bn from the previous year, while net sales declined by 9.7% to Y121.0bn, partly because of the lower sales volumes of industrial chemicals and weak domestic demand for polycarbonate (PC), the producer said.

($1 = Y79.8)

By: Tomomi Yokomura
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly