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Ube reports fall in profits

1:27 AM MST | February 5, 2014 | Deepti Ramesh

Ube Industries reports a 23.2% fall in net profits for its fiscal nine months, ended 31 December 2013, compared with the year-ago period, to ¥9.6 billion ($95 million). Nine-month sales increased 2.6%, to ¥476.6 billion. The US economy continued to gradually recover during the period, but the European economy remained stagnant and economic growth in China and other Asian countries decelerated, resulting in a weak global economy, Ube says. The Japanese economy showed signs of a recovery, and the depreciation of the Japanese currency improved exports and...

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