Japan’s Taiheiyo Cement announced a 41.8 per cent YoY decline in net profit to JPY3.2bn (US$29.96m) for the quarter ending June 2020.

However, operating profit advanced 17.1 per cent YoY to JPY7bn while sales edged downwards by three per cent to JPY200.5bn.

The cement sales volumes for its China business decreased due to the impact of COVID-19.