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Ube Reports Huge Rise in Profits

4:56 AM MST | February 4, 2011 | Deepti Ramesh

Ube Industries’s net profits for the first nine months ended December 31, 2010 nearly tripled compared with the year-ago period, to ¥15 billion. Sales increased 14%, to ¥452.4 billion. Ube’s chemicals and plastics segment reported a 30% rise in nine-month sales, to ¥149 billion. The segment reported an operating profit of ¥11.7 billion, compared with an operating profit of ¥500 million in the year-ago period. Sales of caprolactam and industrial chemicals were strong, and sales of polybutadiene rubber and polyamide resins were...

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