Raw material prices were a common theme in the earnings of Japan’s KH Neochem and Yushiro Chemical for the quarter ending March 31. The higher costs blunted profits even though business recovery brought increased sales, Yushiro Chemical said. KH Neochem – which posted a large increase in profits – noted that revising its product prices helped balance the impact from raw materials.
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Metalworking fluids and industrial oil maker Yushiro Chemical reported that its fiscal year net profit plummeted 72% to ¥273 million, down from ¥978 million.