IHS Chemical Week

People & Business :: Earnings/Finance

Ube swings to loss

7:51 AM MDT | August 6, 2013 | Deepti Ramesh

Ube Industries reports a net loss of about ¥200 million ($2 million) in its fiscal first quarter ended 30 June, compared with a net profit of ¥2.3 billion in the year-ago quarter. Sales in the first quarter increased 1.4%, to ¥153.4 billion. During the quarter, although the US economy continued a gradual recovery, stagnation of the European economy continued and there was a deceleration of economic expansion in China and other Asian countries, resulting in a weak global economy, Ube says. The Japanese economy showed signs of recovery due to...

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