Japan's Marubeni posts 5.8% fall in chemicals nine-month net profit

01 February 2013 08:21  [Source: ICIS news]

TOKYO (ICIS)--Marubeni Corp’s chemicals business reported a 5.8% year-on-year fall in its nine-month net profit to yen (Y) 5.68bn ($62.1m), partly weighed by lower prices of vinyl chloride, the Japanese trading firm said on Friday.

Fewer transactions of equipment used to make liquid crystal display (LCD) panels headed for China also weighed on the firm’s net profit, it said in a statement.

The chemicals unit’s total volume of trading transactions fell by 1.7% year on year to Y720.4bn in the nine months to 31 December last year, while operating profit rose by 8.5% to Y4.58bn, the company said.

On a group-wide basis, the firm’s net profit rose by 7.9% year on year to Y152.5bn in the same period, while operating profit fell by 24% to Y95.6bn.

Total volume of trading transactions rose by 0.6% year on year to Y7,697.8bn in the nine-month period.

($1 = Y91.4)

By: Tomomi Yokomura
+65 6780 4359

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