Tokyo – JSR Corp’s Elastomer unit has delivered a strong first-quarter business performance, the group's results for the three months to 30 June show.
The business unit’s portfolio includes: styrene-butadiene rubbers (ESBR and SSBR), polybutadiene rubber, polyisoprene, nitrile rubber, butyl rubber, ethylene-propylene rubber and thermoplastics elastomers.
First quarter sales came in at Yen40,528 million, 18.1% more than in the same period last year, said the 31 July financial statement.
Operating income, meanwhile, ballooned 463% year-on-year to Yen5,765 million compared to Yen1,246 million a year ago – yielding a four-fold increase in margin levels to 12%.
JSR linked the gains mainly to a recovery in market conditions, which supported higher pricing since the second half of last year. An increase in sales-volumes also contributed.
For its full fiscal year to 30 March 2018, JSR projected elastomer sales to reach Yen195.0 million, compared to the prior-year Yen185.3 million.