Ube’s chemical unit swings to operating loss on lower revenue

摘要

Ube Industries says that its chemical business unit, its largest, registered an operating loss of ￥2.5 billion ($23.8 million), compared with an operating proft of ￥8.3 billion a year earlier. Sales at this sector stood at ￥112.3 billion, down by 23.2% YOY. The caprolactam business recorded a decrease in sales owing to decline in product pricing following COVID-19 outbreak, which caused market prices for ingredients such as benzene to decrease, it says.