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Ube announces business plan, will invest $1.37 billion over the next 3 years

6:31 AM MDT | May 17, 2013 | Deepti Ramesh

Ube Industries has unveiled a new medium-term management plan for the next three years. Ube is targeting operating profits of ¥55 billion ($540 million) in the fiscal year ending 31 March 2016 compared with operating profits of ¥29.9 billion in the fiscal year ended 31 March 2013. Sales targets have not been disclosed. Ube recorded full-year sales of ¥626 billion in the fiscal year ended 31 March 2013. Capital expenditure (capex) over the next 3 years will be ¥140 billion ($1.37 billion), Ube says. The capex will be focused on certain...

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