Taiheiyo Cement Corp. said Monday it turned to a loss in its first quarter as demand waned in Japan and the United States.
The company reported a loss of ¥8.6 billion in the three months that ended June 30, compared with a ¥2.7 billion profit a year earlier, the Tokyo-based company said. Sales fell 9.6 percent to ¥202.4 billion.
Sales slid in Japan and the U.S., the company's largest markets, after a slowdown in construction led to production cuts. Taiheiyo Cement and its rivals in Japan are trying to cope with surging coal and oil expenses by passing the costs on to buyers.
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