SINGAPORE (ICIS)--Mitsui Chemicals' net income in the April to September period 2020 fell on the back of lower production amid poorer demand caused by the coronavirus pandemic, the Japanese producer said on Wednesday.
|Yen (Y) billion||Q3 2020||Q3 2019||% change|
- All business segments saw lower sales during
the period as compared to the previous year,
weighed by lower sales prices due to the fall
in naphtha and other raw materials and fuel
- Naphtha cracker operating rates were lower than the same period of the previous fiscal year due to decreased demand of downstream products, which was impacted by coronavirus.
- The company's polypropylene (PP) was affected by slowing demand for automotive products.
|Yen (Y) billion||April 2020-March 2021||April 2019-March 2020||% change|
"It is still unclear as to when the pandemic will be contained, and the impact on the group’s performance is difficult to fully predict," the company said in a statement.
"Depending on how the pandemic progresses, the group may possibly incur further losses from the third quarter onward," it added.
Visit the ICIS Coronavirus topic page for analysis of the impact on chemical markets and links to latest news.