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Mitsubishi to post net loss-paper

Mitsubishi Chemical Corp said it expected to post a group net loss of about JPY 30 billion, more than JPY 20 billion worse than its own earnings forecast for the business year ended March. It was repo…

Mitsubishi Chemical Corp said it expected to post a group net loss of about JPY 30 billion, more than JPY 20 billion worse than its own earnings forecast for the business year ended March. It was reported that Japan“s largest comprehensive chemicals maker will fall short of its earlier estimate for a JPY 9 billion consolidated net loss and a profit of JPY 3.2 billion posted a year ago. Mitsubishi Chemical was hit by weakness in its mainstay petrochemical business. It is also expected to suffer more than JPY 40 billion in extraordinary losses stemming from job reductions and valuation writedowns on shareholdings, the paper said.

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