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Mitsubishi Gas Chemical Profit Rises 118% in Fiscal Q1

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Mitsubishi Gas Chemical (TYO:4182) posted an 118% year-over-year rise in profit attributable to owners of the parent to 18.3 billion yen for the three months ended June 30 from 8.4 billion yen.

The chemical products company's basic earnings per share increased to 94.02 yen from 43.17 yen a year ago, according to a Tokyo Stock Exchange filing on Thursday.

Net sales jumped 26% to 224 billion yen from 178 billion yen in the year-ago period.

In a separate filing, the company raised its forecast for the fiscal year ending March 31, 2027, with an attributable profit of 55 billion yen, basic EPS of 282.04 yen, and net sales of 860 billion yen, on higher market prices for methanol and engineering plastics due to the Middle East crisis.

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