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Kuraray Reports Rise in Profits and Sales

12:53 AM MDT | August 3, 2011 | Deepti Ramesh

Kuraray reported a 64% rise in net profits for its fiscal first quarter ended June 30, 2011, compared with the year-ago period, to ¥9.3 billion ($121 million). Sales increased 2.5%, to about ¥90 billion. During the first quarter, the economic situation in Japan was harsh, mainly due to the negative impact of the earthquake and tsunami that hit Japan on March 11, and due to the rise in prices of raw materials and fuel, Kuraray says. Kuraray announced in late June that its Kashima site has resumed normal rates of production, and that shipments of all...

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