On November 1, Mitsubishi Chemical Holdings issued a press release announcing that the market for petrochemical-related products such as synthetic fiber raw materials (terephthalic acid) was lower than originally expected, so this year (April 2012-March 2013) The consolidated revenue target was revised down by 7.2% to 3.2 trillion yen (0.3% year-on-year) from 3.45 trillion yen announced on August 1. The consolidated profit target was lowered by 25.0% from 160 billion yen to 120 billion yen (year-on-year decrease of 8.1%) The consolidated net profit target was significantly reduced by 58.0% from 50 billion yen to 21 billion yen (40.8% year-on-year).
Mitsubishi Chemical also announced the first half of this year (April-September, 2012) earnings report: LED phosphors and flash memory (Flash Memory) products sales growth, ethylene production is also better than the same period last year (up 36.2% to 546,000 T), but due to the decrease in the sales volume of external hard drives, the shrinking of the DVD market, the decline in the price of battery materials/the decrease in sales volume, and the significant decline in sales of synthetic fiber raw materials (terephthalic acid), the combined revenue was compared with the same period last year. The decline was 2.6%, only 1 trillion 529.788 billion yen, and the combined profit was reduced by 57.0% to only 41.105 billion yen. The combined net profit plummeted 91.1% to only 3.323 billion yen.
Mitsubishi Chemical also announced the first half of this year (April-September, 2012) earnings report: LED phosphors and flash memory (Flash Memory) products sales growth, ethylene production is also better than the same period last year (up 36.2% to 546,000 T), but due to the decrease in the sales volume of external hard drives, the shrinking of the DVD market, the decline in the price of battery materials/the decrease in sales volume, and the significant decline in sales of synthetic fiber raw materials (terephthalic acid), the combined revenue was compared with the same period last year. The decline was 2.6%, only 1 trillion 529.788 billion yen, and the combined profit was reduced by 57.0% to only 41.105 billion yen. The combined net profit plummeted 91.1% to only 3.323 billion yen.
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