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Japanese chemical companies report first-quarter losses.

Publication: Chemical Week
Publication Date: 17-AUG-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Japanese chemical companies report first-quarter losses.(BUSINESS & FINANCE NEWS: ASIA/PACIFIC)(Mitsubishi Chemical Corp.)(Sumitomo Chemical Company Ltd.)(Asahi Kasei Corp.)(Financial report)

Article Excerpt
Most major Japanese chemical firms reported losses for their fiscal first quarter ended June 30, 2009 due mainly to poor demand for their products and a challenging business environment caused by the global economic slowdown.

Mitsubishi Chemical reported a net loss of about [yen] 17 billion ($179 million) for the first quarter, compared with a net profit of [yen] 13.1 billion in the corresponding period of the previous fiscal year, on sales down 28%, to [yen] 550 billion. The business environment remained severe due to lower selling prices and weakening demand mainly in the performance products and...

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