Japanese company Mitsubishi Chemical's Q3 FY21 sales fall 13.7%

13 Apr '21

1 min read

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Mitsubishi Chemical Holdings, a Japanese chemicals company, reported 13.7 per cent decrease in sales to ¥2,355.4 billion (Japanese Yen) during the third quarter (Q3) FY21 ended on December 31, 2020 compared to sales of ¥ 2,730.7 billion in same period prior fiscal. The company’s net loss for Q3 FY21 was ¥28.4 billion (Q3 FY19: net income ¥108.2 billion).

The company’s gross profit for the quarter was ¥761.9 billion (¥661.0 billion). Operating income slipped to ¥728 million (¥160.5 billion). Loss before taxes was ¥12.7 billion (profit ¥144.7 billion).

Sales of performance products dropped to ¥745.4 billion (¥847.7 billion), whereas chemicals segment sales slipped to ¥607.4 billion (¥815.6 billion). In performance chemicals, sales revenue decreased amid lower sales volumes for automobiles, including for performance polymers in advanced polymers and other offerings.

Industrial gases segment sales dipped during Q3 FY21 to ¥587.4 billion (¥628.2 billion). However, healthcare segment reported a rise in sales to ¥22.3 billion (¥21.9 billion).

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