Japan earnings fall on prices and currency

摘要

Leading chemical companies based in Japan were challenged in the fiscal first half, ended 30 September, by currency impacts, lower prices, and spotty economic growth. Mitsui Chemicals' net profit stood at ￥39.7 billion ($378.5 million), down 4% year-over-year (YOY). Half-year net sales sank 19.7% YOY, to ￥568.7 billion. This was mainly due to a ￥104.8-billion drop in selling prices and a ￥35.1-billion decrease in sales volumes. Prices were lower on the back of a fall in the price of naphtha and other raw materials, and fuels, as well as currency movements. The economy in the United States and Europe showed signs of continuing recovery, Mitsui says.