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Ube Swings to Profit

10:16 PM MDT | August 4, 2010 | Deepti Ramesh

Ube Industries reported a net profit of ¥1.7 billion ($20 million) for its fiscal first quarter ended June 30, compared with a net loss of about ¥3.2 billion in the corresponding period of the previous fiscal year, on sales up 16.5%, to about ¥140 billion. Ube’s chemicals and plastics segment recorded a 33% rise in first-quarter sales, to ¥43.6 billion and the segment reported an operating profit of ¥700 million, compared with an operating loss of ¥4.2 billion in the year-ago period. Sales of polybutadiene rubber, caprolactam and...

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