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Ube records fall in profits and sales

2:02 AM MDT | May 13, 2013 | Deepti Ramesh

Ube Industries reports a 64.2% fall in net profits for the fiscal year ended 31 March compared with the previous fiscal year, to ¥8.2 billion ($80.5 million). Full-year sales decreased 1.9%, to ¥626 billion. Ube’s chemicals and plastics segment reports a 5% fall in full-year sales, to ¥219.3 billion, and operating profits for the segment decreased 78%, to ¥5 billion. The market for caprolactam was weak partly because of the global economic slowdown, Ube says. Margins decreased substantially compared with the previous fiscal year because the...

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