Japan's Asahi Kasei Q1 net profit shrinks 84%, net sales down 0.8%

02 August 2012 06:31  [Source: ICIS news]

TOKYO (ICIS)--Asahi Kasei Corp posted an 84% year-on-year decline in its fiscal first-quarter net profit to yen (Y) 3.16bn ($40m), with net sales decreasing 0.8%, the Japanese chemical firm said on Thursday.

Net sales in the three months to 30 June 2012 stood at Y365.0bn, with operating profit falling 64% year on year to Y10.8bn, the company said in a statement.

In its chemicals segment, net sales fell 9.4% year on year to Y161.1bn, while operating profit declined 78% to Y4.3bn as overseas sales volume of acrylonitrile (ACN) and adipic acid declined, Asahi Kasei said.

($1 = Y78.50)


By: Tomomi Yokomura
+65 6780 4359



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