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Ube widens loss

7:31 AM MDT | July 31, 2014 | Deepti Ramesh

Ube Industries reports a net loss of about ¥1.1 billion ($10.7 million) in its fiscal first quarter ended 30 June, compared with a net loss of ¥200 million in the year-ago quarter. Sales in the first quarter decreased 3.2%, to ¥148.5 billion. During the quarter, while the US economy continued modest recovery and the European economy showed signs of bottoming out, the pace of economic growth slowed down in China and other Asian countries; as a whole, the world economy seemed to lack momentum, Ube says. On the other hand, the Japanese economy was on...

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