DIC Reports Fall in Sales, Downgrades Earnings and Sales Projections

DIC Corp. (Tokyo) reported a 2.4% increase in net profits for its fiscal first half ended September 30, 2011, compared with the year-ago period, to ¥12.53 billion ($160.6 million). Sales decreased however, by 3.6%, to ¥378.9 billion mainly as a result of the appreciation of the Japanese currency, DIC says. The increase in net profits reflects a gain on sales of subsidiaries’ stocks, DIC says. The printing inks & supplies business segment of the company reported an 8% fall in first-half sales, compared with the year-ago period, to ¥189.1...

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