05 February 2013 04:39 [Source: ICIS news]
TOKYO (ICIS)--Japan’s Asahi Kasei posted a 26% year-on-year decrease in its nine-month net profit to yen (Y) 35.6bn ($385m), because of deteriorating market conditions in the chemicals and electronics segments, the company said in a statement on Tuesday.
Operating profit for the nine months to 31 December 2012 fell by 28% year on year to Y62.5bn, while net sales increased by 2.8% to Y1,202.6bn.
In the chemicals segment, operating profit fell by 60% to Y17.4bn from the same time in the previous year, while net sales declined by 4.6% to Y501.4bn.
This was partly because terms of trade deteriorated significantly as prices for acrylonitrile (ACN) and other monomers declined as demand stagnated in China and other countries, Asahi Kasei said.
($1 = Y92.42)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections