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Kuraray reports fall in profits

4:04 AM MDT | November 2, 2012 | Deepti Ramesh

Kuraray reported a 26% fall in net profits for its fiscal first half, ended 30 September 2012, compared with the year-ago period, to ¥12.7 billion ($159 million). Sales decreased 2.6%, to ¥180.9 billion. During the first half of the fiscal year, demand remained weak overall because of the economic downturn in Europe reflecting the financial crisis, as well as the softening of growth in China and other emerging economies, Kuraray says. In Japan, the business environment remained challenging as the Japanese currency continued to strengthen, the company...

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