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Kuraray Swings to Profit in Fourth Quarter; to Establish Subsidiary in Brazil
12:54 AM MDT | April 30, 2010 | Deepti Ramesh
Kuraray has reported a net profit of ¥4.2 billion ($44 million) for the fourth quarter ended March 31, 2010, compared with a net loss of ¥3.1 billion in the year-ago period. Fourth-quarter sales increased by 20%, to ¥90.2 billion. Kuraray also announced its plan to establish a subsidiary at Sao Paulo, Brazil this year, to expand the company’s business in South America. Kuraray expects to increase its sales in the Latin American region to $200 million within five years. Kuraray has recorded a 26% rise in net profits for the fiscal year ended...
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