Ube downgrades earnings and sales projections

Ube Industries has revised its earnings and sales forecasts for the fiscal first-half, ended 30 September 2012, and the full fiscal year, ending 31 March 2013. The earlier forecasts were announced in May 2012. Ube expects to record a net profit of ¥8 billion ($101.4 million) for the first half of the fiscal year, having previously forecast a net profit of ¥9.5 billion, and predicts first-half sales of ¥313 billion, having previously forecast first-half sales of ¥330 billion. For the full fiscal year, Ube expects to record net profits of ¥16...

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