Taiheiyo Cement reports 9.9% profit drop in fiscal year 2020

Japan: Taiheiyo Cement’s net profit in the fiscal year that ended on 31 March 2020 was US$363m, down by 9.9% year-on-year from US$403m in the fiscal year 2019. Sales fell by 3.5% year-on-year to US$8.21bn from US$8.51bn. Taiheiyo Cement said that it experienced a, “decrease in aggregate sales volumes due to the end of demand related to the Tokyo Olympics and Paralympics and reconstruction demand from the Great East Japan Earthquake” in the quarter ended 31 March 2020.