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Ube Reports Rise in Profits and Sales

5:44 AM MST | February 3, 2012 | Deepti Ramesh

Ube Industries reported a 29% rise in net profits for the nine months ended December 31, 2011, compared with the same period of the previous year, to ¥19.4 billion ($255 million). Sales increased 4%, to ¥471 billion. Ube’s chemicals and plastics segment reported a 17% rise in nine-month sales, to ¥174.1 billion. Operating profits for the segment increased 65%, to ¥19.4 billion. The market for caprolactam was weak in early fall due to concerns about the downturn in the economy, but the margins improved substantially compared to the year-ago...

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