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Kuraray Reports Higher Annual Profits and Sales

8:15 AM MDT | May 1, 2008 | Deepti Ramesh

Kuraray reported a 14% rise in net profits, to ¥25.5 billion ($245.7 million) for its fiscal year ended March 31, 2008. Sales grew 8.4%, to ¥417.6 billion. “Our profit margins were squeezed by the escalating prices of raw materials and fuels," Kuraray says. "We took active steps against these severe conditions through measures such as adding value to products, revising prices, and reducing costs throughout the entire group,” Kuraray says. The Japanese economy grew steadily during the year, supported by exports, and increases in...

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