Japan's Ube Industries raises full-year net profit forecast

23 April 2013 09:34  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Ube Industries has raised the forecast for its full-year net profit by 49% to yen (Y) 8.2bn ($82.5m) from the previous prediction, partly because its chemicals earnings improved due to the depreciation of yen, the company said on Tuesday.

Operating profit for the year ended 31 March  is now expected to be Y29.9bn, up by 6.8% from the figure announced on 5 February, due to similar reasons, Ube Industries said in a statement.

However, its forecast for net sales was lowered from the previous figure by 0.3% to Y626.0bn.

The company did not state reasons for the lower net sales prediction.

($1 = Y99.41)

By: Tomomi Yokomura
+65 6780 4359

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