Ube Upgrades Earnings and Sales Forecasts

Ube Industries has upgraded its sales and earnings forecasts for the fiscal year ending March 31, 2010. Ube expects to record net profits of ¥1.5 billion ($16 million), having previously forecast that it would break even, and forecasts full-year sales of ¥255 billion, having previously predicted sales of ¥243.5 billion. The company expects to record an annual operating profit of ¥7 billion, compared with its prior estimate of ¥7.5 billion. The earlier forecasts were announced in May 2009. The sales forecast has been revised upward from the...

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