Japan's Mitsui Chemicals posts Y9.71bn in net loss in Apr-Dec '12

05 February 2013 05:41  [Source: ICIS news]

TOKYO (ICIS)--Japan’s Mitsui Chemicals’ nine-month net loss widened to yen (Y) 9.71bn ($105m) from a net loss of Y223m in the year-before period, due to lower sales volume in the basic chemicals segment, the company said in a statement on Tuesday.

The increase in loss was also attributed to deterioration of trade in the petrochemicals and basic chemicals segments.

Operating profit during the nine months to 31 December 2012 fell by 91% to Y2.47bn, while net sales were down by 8.4% to Y1007.4bn.

The basic chemicals segment recorded an operating loss of Y12.6bn, swinging from an operating profit of Y16.9bn in the corresponding period a year earlier, because of lower sales volume due to the plant explosion at the Iwakuni Ohtake Works in April 2012 as well as a market downturn, Mitsui Chemicals said.

Net sales in the basic chemicals segment fell by 24% year on year to Y299.5bn.

($1 = Y92.42)

By: Tomomi Yokomura
+65 6780 4359

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