Japan's Marubeni posts 9.5% decrease in chemicals Q1 net profit

30 July 2012 09:51  [Source: ICIS news]

TOKYO (ICIS)-- Japanese trading firm Marubeni Corp on Monday posted a first-quarter net profit of yen (Y) 1.9bn in its chemicals segment, a 9.5% decrease from the same period a year earlier, due to shrinkage in handling volume of manufacturing equipment for liquid crystal panels, the company said in a statement.

Gross trading profit in the chemicals segment fell by 7.2% year on year to Y6.4bn ($81m, €66m) in the three months to 30 June 2012.

Marubeni’s overall net profit for the first quarter rose by 8.3% year on year to Y52.4bn, while operating profit fell by 32% to Y26.8bn, said the company.

Gross trading profit during the three months was Y121.4bn, a 5.7% decrease from the same time the previous year, according to Marubeni.

($1 = Y78.57, €1 = Y96.95)

By: Tomomi Yokomura
+65 6780 4359

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