Tokyo, Japan—Tosoh Corp. has reported increased shipments of its chloroprene rubber materials in a consolidated results statement for the three months to 30 June.
During the group’s fiscal first quarter, the chloroprene rubber operation also benefited from a rise in export prices driven by strong overseas demand, said a 1 Aug statement from the Japanese group.
Tosoh’s rubber unit is part of Petrochemical Group segment which posted a 22.5% rise in Q1 net sales to Yen46.2 billion (€345 million), compared with the first quarter of fiscal 2017.
Helped by “improved terms of trade”, operating income also increased ¥1.5 billion, or 54.9%, to Yen4.3 billion the group also stated.
As well as chloroprene rubber, the Tosoh unit also manufactures chlorosulphonated polyethylene materials
During the quarter, the Petrochemical Group, which produces ethylene, propylene and other olefins, managed to raise prices for its products to reflect increased naphtha costs, said Tosoh.