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Kuraray Records Huge Rise in Profits

4:54 AM MDT | August 4, 2010 | Deepti Ramesh

Kuraray has reported a net profit of ¥5.7 billion ($66 million) for its first quarter ended June 30, compared with a net profit of ¥138 million in the year-ago period. Sales increased 20%, to ¥87.7 billion. The operating environment in the quarter saw a gradual recovery in demand for the company’s products in emerging economies, mainly China, Kuraray says. But the situation remained unpredictable with a stagnant economy in Europe caused by anxiety over the future financial condition, a declining euro and appreciation of the yen, and concerns...

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