Operating income down in 2013 for JSR Corp.

ERJ staff report (LMH)

Tokyo - JSR Corp. has reported a 2.7 percent increase in sales in the year ended 31 March 2012, with a drop in operating income of -8 percent. Sales for the year were Yen 350 billion (Euro 3 billion), while income was down at Yen 35 billion.

A possible reason for this is the effects of the 11 March earthquake last year, although JSR did not specify this in its 25 April report. Current net income for the Japanese rubber producer is Yen 26 billion, down 4.2 percent.

The company has forecast a 14.5 percent increase in sales in the first half of fiscal 2013, with a full year increase of 15.7 percent, reaching yen 405 billion. JSR said it expects a 10.1 percent drop in operating income in the first half to Yen 17.5 billion, but for the full year, the company predicts a total increase of 16.8 percent, reaching Yen 42 billion.

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Press release from JSR Corp.