Japanese textiles and chemicals manufacturer Mitsubishi Rayon Company has posted a 43.4% drop in third quarter profit to JPY13.5bn (US$126.7m).

The company said that its quarterly sales rose 4.1% to reach JPY312.7bn, compared to sales of JPY300.4bn in the corresponding period last year.

Third quarter sales of acrylic fibres and carbon fibres both increased, to JPY58.6bn and JPY35.9bn respectively.

Its acetate and membranes division, however, posted lower sales of JPY79.8bn - from JPY82.6bn last year.