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Mitsubishi Chemical Net Attributable Income Rises 194% in Fiscal Q1

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Mitsubishi Chemical (TYO:4188) posted a 194% year-over-year increase in net income attributable to owners of the parent to 57.71 billion yen for the first quarter ended June 30 from 19.63 billion yen.

The Japan-based company's basic earnings per share increased to 42.47 yen from 13.96 yen a year ago, according to a Tokyo Stock Exchange filing on Friday.

Sales revenue jumped 14% to 1.004 trillion yen from 880.65 billion yen in the year-ago period.

In a separate filing, the company raised its forecast for the six months ending Sept. 30, with an attributable profit of 86 billion yen, EPS of 63.30 yen, and sales revenue of 2.043 trillion yen on strong sales of semiconductor-related products in the first quarter.

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