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Kuraray reports fall in profits and sales

8:35 AM MST | February 6, 2013 | Deepti Ramesh

Kuraray reported a 15.9% fall in net profits for its fiscal first 9 months, ended 31 December 2012, compared with the year-ago period, to ¥21.4 billion ($228 million). Nine-month sales decreased 1.3%, to ¥272 billion. During the nine-month period, demand remained weak overall because of the economic downturn in Europe, which showed no signs of recovery, as well as the stagnant growth in China and other emerging economies, Kuraray says. In Japan, the business environment remained challenging as the Japanese currency continued to strengthen until...

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