UBE Industries (JP:4208) has released an update.
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UBE Corporation announces the dissolution of its Malaysian equity method affiliate, LOTTE UBE SYNTHETIC RUBBER SDN. BHD., due to challenging market conditions and lower-than-expected financial performance. This decision will result in a projected loss of approximately 10 billion yen in UBE’s consolidated results. Despite this setback, UBE will continue supplying butadiene rubber from its bases in Japan, Thailand, and China.
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