Japan's Mitsui Chemicals posts full-year net loss of $12.5m

10 May 2012 06:18  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Mitsui Chemicals on Thursday posted a full-year net loss of yen (Y) 1bn ($12.5m) ending 31 March, compared with a net profit of Y24.9bn the same period a year earlier, because of lower operating income from petrochemicals and basic chemicals units.

The company’s net sales rose by 4.5% year on year to Y1,392bn in the full-year period, while overall operating income fell by 46.7% to Y21.6bn, the company said in a statement.

Operating income from the petrochemicals and basic chemicals units fell by 27.3% and 56.4% year on year to Y9.3bn and Y8.9bn respectively, it said without elaborating.

Mitsui Chemicals in its outlook said that it has not issued financial forecasts for the year ending 31 March 2013 in light of the explosion and fire at the firm’s Iwakuni-Ohtake Works site on 22 April this year.

“At the point in time, the causes of the accident are under investigation by the authorities as well as an Accident Investigation Committee comprised solely of members of the academia and external specialists,” it said.

Operations at most plants within the Iwakuni-Ohtake Works site continue to be suspended, the company added.

($1 = Y80)

By: Nurluqman Suratman

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