Japan's Mitsubishi Gas Chem swings to Y7.8bn loss in yr-to-Mar '13

09 May 2013 07:33  [Source: ICIS news]

TOKYO (ICIS)--Mitsubishi Gas Chemical swung to a net loss of yen (Y) 7.79bn ($79m) in year-to-March 2013 from a profit of Y12.3bn in the previous corresponding period, because of costs incurred in the restructuring of its purified isophthalic acid and meta-xylene businesses, the Japanese firm said on Thursday.

Operating profit for the full year rose by 26% to Y11.4bn, while net sales was up by 3.5% to Y468.0bn.

In the aromatics chemicals segment, operating profit stood at Y700m, reversing a loss of Y1bn in the previous corresponding period, as net sales rose by 2.3% to Y128.2bn.

In the performance chemicals segment, operating profit fell by 7.3% to Y6.9bn, while net sales increased by 8.7% to Y131.6bn.

($1 = Y98.82)

By: Tomomi Yokomura
+65 6780 4359

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