Japan's Sekisui Chemical posts Y2.02bn net profit for April-June

30 July 2012 07:37  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Sekisui Chemical has on Monday posted a first-quarter net profit of yen (Y) 2.02bn ($25.7m), swinging from a net loss of Y608m in the same period a year earlier, because of a record high first-quarter operating profit from its housing segment.

Its overall operating profit in the three months to 30 June 2012 rose by 3% year on year to Y5.74bn, while net sales were up by 22% at Y259.9bn, the company said in a statement.

The company’s first-quarter operating profit in the high performance plastics segment increased by 11% to Y5.10bn from the same time a year earlier, while net sales were up by 45% at Y104.6bn, according to the statement.

This was due partly to recovering automotive demand in Japan and the US, Sekisui Chemical said.

($1 = Y78.57)

By: Tomomi Yokomura
+65 6780 4359

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