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Ube reports rise in profits and sales

10:03 AM MDT | May 12, 2014 | Deepti Ramesh

Ube Industries reports a 53.6% rise in net profits for its fiscal year ended 31 March compared with the previous fiscal year, to ¥12.6 billion ($123 million). Full-year sales increased 3.9%, to ¥650.5 billion. The US economy continued to gradually recover during the fiscal year, but the European economy remained stagnant and economic growth in China and other Asian countries decelerated, resulting in a weak global economy, Ube says. The Japanese economy showed signs of a recovery, and the depreciation of the yen improved exports, and the various policies...

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