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Kuraray Reports Rise in Profits and Sales

5:59 AM MDT | April 26, 2012 | Deepti Ramesh

Kuraray reported a 9.5% rise in net profits for the fiscal year ended March 31, 2012, compared with the previous fiscal year, to ¥31.46 billion ($388 million). Sales increased 1.6%, to ¥368.9 billion. The operating environment of the company was affected by raw material and fuel price hikes and by the earthquake and tsunami that hit Japan in March 2011, during the first half of the fiscal year, Kuraray says. The global economic slowdown against the backdrop of the debt crisis in Europe, the rapid appreciation of the Japanese currency, and the disruption...

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