Tokyo – Zeon Corp.'s elastomers business has notched up a 20-percent year-on-year rise in operating income for the first three quarters of its fiscal 2016, on sales 4-percent lower at Yen136.1 billion (€1.03 billion), a group financial statement shows.
The increased profitability, for the nine months to 31 Dec 2015, comes at a time of restructure and refocus onto higher-value markets at the Japanese-based supplier of NBR and HNBR, SBR and BR rubbers for the tire and general rubber goods markets.
The company is currently closing its Zeon Europe production facility in Wales: posting a cost of Yen4.8 billion for “the loss of its British subsidiary” as an extraordinary item in its results statement.
Looking ahead, Zeon is forecasting a 4-percent increase for sales at its elastomers unit for the full fiscal 2016, to Yen195.5 billion. Operating income is, meanwhile, expected to grow by 23 percent year-on-year, to reach Yen20.7 billion.