Ube Upgrades Earnings, Sales Forecasts

Ube Industries has upgraded its sales and net earnings projections for the fiscal first half ended September 30, 2011. Ube expects to record net profits of ¥11.5 billion ($151 million) having previously forecast net profits of ¥7.5 billion, and forecasts first-half sales of ¥310 billion, having previously predicted sales of ¥308 billion. The earlier forecasts were announced in May 2011. The forecast for net income was revised upward due to various factors such as better margins for caprolactam in the chemicals and plastics segment on the back of...

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