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Kuraray Reports Fall in Profits and Sales

12:04 AM MDT | July 31, 2012 | Deepti Ramesh

Kuraray reported a 37.6% fall in net profits for its fiscal first quarter, ended June 30, 2012, compared with the year-ago period, to ¥5.82 billion ($74.5 million). Sales decreased 1.5%, to about ¥88.5 billion. During the first quarter, global demand remained weak overall due to the slowdown in the European economy, reflecting the financial crisis and the softening growth in China and other emerging economies, Kuraray says. In Japan, the business environment continued to be challenging with the continuing appreciation of the Japanese currency, Kuraray...

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