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Ube reports fall in profits

12:07 AM MST | November 4, 2013 | Deepti Ramesh

Ube Industries reports a 21.4% fall in net profits for its fiscal first half, ended 30 September, compared with the year-ago period, to ¥6.6 billion ($67 million). First-half sales remained nearly unchanged, at ¥310.8 billion. Although the US economy continued to gradually recover during the half, the European economy remained stagnant and China's and and other Asian countries' economies' expansions decelerated, resulting in a weak global economy, Ube says. The Japanese economy recovered because of reconstruction demand after the March 2011...

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