Ube Revises Earnings and Sales Forecast

Ube Industries has revised the consolidated sales and earnings projections for the company’s fiscal first half ended September 30, 2009. Ube expects to record a net loss of ¥100 million ($1 million) having previously forecast a net loss of ¥4.5 billion. Ube says it expects to post first-half sales of ¥256 billion, having previously forecast sales of ¥258 billion. The earnings forecast are revised upward due to a strong recovery of demand in the chemicals and plastics segment, enabling Ube to record higher-than-expected volumes, the company...

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