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Cosmo Oil Profit Falls 50% as Mild Weather Cuts Sales (Update1)
Cosmo Oil Co.’s profit fell 50 percent in the fiscal fourth quarter after a milder-than-usual winter slashed demand for heating oil.
Net income at Japan’s fourth-biggest refiner declined to 7.12 billion yen ($60 million) in the three months ended March 31 from 14.1 billion yen a year earlier. Bloomberg calculated the figures by subtracting nine-month numbers [...]
