Ube Upgrades Earnings and Sales Forecasts

Ube Industries has upgraded its sales and net earnings projections for the fiscal first half ended September 30, 2010. Ube expects to record net profits of ¥7.6 billion ($94 million), having previously forecast net profits of ¥4 billion, and forecasts half-year sales of ¥294.6 billion, having previously predicted sales of ¥290 billion. The earlier forecasts were announced in May 2010.  The forecasts have been upgraded due to various factors including “greater than anticipated spreads between product prices and raw materials costs for...

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