Japan’s Mitsui Chemicals swings to Y15.3bn H1 net loss

01 November 2012 05:00  [Source: ICIS news]

TOKYO (ICIS)--Mitsui Chemicals posted a yen (Y) 15.3bn ($192m) net loss in the six months to 30 September 2012, reversing a net profit of Y13.4bn in the same period a year earlier, partly on losses at its Iwakuni-Ohtake site, the Japanese firm said on Thursday.

The company incurred a Y4.6bn net loss related to the explosion at the Iwakuni-Otake Works on 22 April that killed a worker, it said in a statement.

Net sales during the six-month period fell by 10% year on year to Y680.5bn, while operating profit was down by 95% to Y1.48bn.

In the basic chemicals segment, an operating loss of Y7.0bn was recorded, swinging from an operating profit of Y18.2bn a year earlier because as net sales fell by 29% year on year to Y190.3bn, Mitsui Chemicals said.

($1 = Y79.79)

By: Tomomi Yokomura
+65 6780 4359

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