Ube Downgrades Earnings and Sales Projections

Ube Industries has revised its sales and earnings forecasts for the fiscal year ending March 31, 2012. Ube expects to record net profits of ¥21 billion ($253 million), having previously forecast net profits of ¥24 billion, and forecasts full-year sales of ¥636 billion, having previously predicted sales of ¥662 billion. The earlier forecasts were announced in November 2011. In the company’s specialty chemicals and products business segment, the fall in demand mainly in the electronics/IT related materials, has continued longer than expected...

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