Japan’s Asahi Kasei H1 net profit falls 46%, sales up 0.4%

01 November 2012 04:40  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical and fibre producer Asahi Kasei reported on Thursday a 46% year-on-year decrease in its six-month net profit to yen (Y) 20.6bn ($258m) as market conditions in the chemicals and electronics businesses weakened.

Net sales for April-September 2012 inched up by 0.4% year on year to Y787.5bn, but operating profit declined by 40% to Y38.3bn, the company said in a statement.

Net sales in the chemicals segment during the six months fell by 8% to Y332.3bn, with operating profit down by 57% to Y14.6bn, partly because of lower overseas market prices of acrylonitrile and adipic acid, the company said.

($1 = Y79.79)

By: Tomomi Yokomura
+65 6780 4359

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