Japan's Marubeni full-year net profit for chemicals falls 10%

08 May 2013 05:21  [Source: ICIS news]

TOKYO (ICIS)--Japanese trading firm Marubeni posted on Wednesday a 10% year-on-year fall in net profit for its chemicals business in its fiscal year ended 31 March, partly because of lower market prices of synthetic fibre feedstocks.

The full-year net profit for its chemical business decreased to yen (Y) 6.8bn ($0.07bn), Marubeni said.

Gross profit for its chemicals segment over the same period fell by 0.3% to Y26.4bn from the previous year, while operating profit decreased by 20% to Y4.8bn.

Full-year net profit for Marubeni’s energy business declined by 32% to Y27.9bn from the year earlier, while gross profit was down by 11% at Y52.3bn.

Operating profit for the energy segment stood at Y24.7bn, a 24% decrease year on year.

Marubeni’s overall full-year net profit rose by 20% to Y205.7bn from the previous year because of the gains made from its investment securities, while revenues increased by 11% to Y4,861.3bn.

Gross profit, however, fell by 2.4% year on year to Y528.2bn, while operating profit declined by 22% to Y122.9bn.

($1 = Y99)

By: Tomomi Yokomura
+65 6780 4359

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