Japan's Kuraray nine-month net profit surges 85% on better sales

02 February 2011 05:00  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese producer Kuaray said on Wednesday its nine-month net profit surged 85% year on year to yen (Y) 22.4bn ($275m), on the back of an 11.4% increase in sales.

Sales for the period ending December stood at Y270.4bn from Y242.7bn in the previous corresponding period, it said in a statement.

Kuraray said demand for its products in Europe and the US improved during the period, while demand from China and other emerging economies was strong.

But the operating environment had remained unpredictable due to weakness in the Japanese economy, as well as the rapid appreciation of the yen, it said.

 ($1 = Y81.41)

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