Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.
Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.#
In fiscal 2019, company reported that the business conditions remained adverse for due demand stagnated, particularly for semiconductor and automotive applications, amid prolonged
US-China trade friction. Also, the Covid-19 pandemic in the fourth quarter constrained economic activity around the globe.
Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.#
Operating income during the year dropped 38 per cent to ¥144.2 billion (FY18: ¥294.7 billion).
Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.#
Sales of Performance Products fell to ¥1,081.6 billion (¥1,155.4 billion) reflecting a downturn in what was a favourable market in the first half of the previous year for phenol-polycarbonate chain materials in advanced polymers, company stated.
Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.#
Sales revenue for Chemicals segment decreased to ¥1,057.1 billion (¥1,257.9 billion). However, sales volumes increased in petrochemicals because of a smaller impact from scheduled maintenance and repairs at the ethylene production facility, prices declined owing mainly to lower raw materials costs and other factors.
Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.#
Sales of Industrial Gases segment increased to ¥843.3 billion (¥732.8 billion) after including the performances of European and US businesses acquired in the second half of the previous fiscal year. .
Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.#
Sales of Health Care segment fell to ¥413.1 billion (¥462.5 billion) reportedly due to lower royalty revenues and despite higher sales volumes in mainly priority products in domestic ethical pharmaceuticals.
Mitsubishi Chemical Holdings Corporation, a Japanese chemicals company, posted 6.8 per cent decrease in sales to ¥3,580.5 billion (Japanese Yen) during fiscal year 2019 ended on March 31, 2020 compared to sales of ¥3,840.3 billion in previous fiscal. Net income for the year fell from ¥216.7 billion in FY18 to ¥86.5 billion in the reported fiscal year.#
In its Outlook for the fiscal 2020,
Mitsubishi Chemical expects its sales around ¥3,344.0 billion. It further expects ¥80.0 billion in net income.
Fibre2Fashion News Desk (JL)