Tokyo – Zeon Corp.’s elastomers business has posted a 23% drop in operating income to Yen8,300 million (€71 million) on first-half net sales of Yen81,600 million – 12% lower than in the prior-year first half.
For the six months to 30 Sept, sales volumes within the elastomers unit’s rubber materials segment fell 6% to 153 kilotonnes (kt), while lattices dropped 10% to 57kt and chemicals 2% to 61kt.
Rubber-segment volume sales were led downwards by Zeon’s speciality materials, which fell by 9%, compared to a 4% decline in general purpose rubber volumes, added Zeon’s report issued 30 Oct.
In value terms, these declines equated to falls of 12% to Yen55,000 million in rubber materials, with lattices down 10% to Yen8,600 million and chemicals 17% lower at Yen16,400 million.
For the full fiscal year 2016, Zeon forecast net sales at its elastomers business to come in 6% lower year-on-year at Yen167600 million and operating income to decline by 2%.
Zeon’s English language financial report did not include a commentary on the figures, though Japanese businesses generally have been impact by the strength on the yen for much of this year.