Mitsubishi Chemical Holdings Corp, a Japanese chemicals firm engaged in fibre and apparel manufacturing, has reported 28.4 per cent sales growth to ¥928.3 billion (Japanese Yen) in first quarter (Q1) of FY21 against ¥722.7 billion in the same period of last year. Operating income skyrocketed 266.8 per cent to ¥87.0 billion (Q1 FY20: ¥23.7 billion).
Mitsubishi Chemical Holdings Corp, a Japanese chemicals firm engaged in fibre and apparel manufacturing, has reported 28.4 per cent sales growth to ¥928.3 billion (Japanese Yen) in first quarter (Q1) of FY21 against ¥722.7 billion in the same period of last year. Operating income skyrocketed 266.8 per cent to ¥87.0 billion (Q1 FY20: ¥23.7 billion).#
The company said that its net income climbed to ¥59.2 billion (¥8.2 billion). Gross profit for the quarter ended on June 30, 2021, was ¥285.5 billion (¥191.8 billion).
Mitsubishi Chemical Holdings Corp, a Japanese chemicals firm engaged in fibre and apparel manufacturing, has reported 28.4 per cent sales growth to ¥928.3 billion (Japanese Yen) in first quarter (Q1) of FY21 against ¥722.7 billion in the same period of last year. Operating income skyrocketed 266.8 per cent to ¥87.0 billion (Q1 FY20: ¥23.7 billion).#
Performance products sales surged to ¥283.1 billion (¥223.4 billion), with polymers and compounds sales rise reflecting a growth in sales volumes for automobiles and other applications products, and upturn in prices for some polymers. Furthermore, films and molding materials improved reflecting a rise in sales of molding materials for use in automobiles and other applications.
Mitsubishi Chemical Holdings Corp, a Japanese chemicals firm engaged in fibre and apparel manufacturing, has reported 28.4 per cent sales growth to ¥928.3 billion (Japanese Yen) in first quarter (Q1) of FY21 against ¥722.7 billion in the same period of last year. Operating income skyrocketed 266.8 per cent to ¥87.0 billion (Q1 FY20: ¥23.7 billion).#
The company’s chemical segment sales for Q1 expanded to ¥291.8 billion (¥185.7 billion). In MMA, sales shot up owing to rise in the market price for MMA monomer given strong demand trends. Moreover, In sales of carbon products advanced reflecting higher sales volumes in tandem with an overall recovery in demand as well as a rise in selling prices for export coke.
Mitsubishi Chemical Holdings Corp, a Japanese chemicals firm engaged in fibre and apparel manufacturing, has reported 28.4 per cent sales growth to ¥928.3 billion (Japanese Yen) in first quarter (Q1) of FY21 against ¥722.7 billion in the same period of last year. Operating income skyrocketed 266.8 per cent to ¥87.0 billion (Q1 FY20: ¥23.7 billion).#
For the first half of FY21, Mitsubishi expects sales increase of 23.6 per cent to ¥1,860 billion, with operating income of around ¥147.0 billion.
Fibre2Fashion News Desk (JL)
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