Tokyo – Zeon Corp.’s elastomer business has seen operating profit fall 16% year-on-year to Yen9.5 billion for the first six months of its financial year, ending March 2019.
Operating income at unit – comprised of 'rubbers', latex and chemicals segments – was impacted by currency effects and higher prices of raw materials, Zeon reported 31 Oct
Furthermore, the figure was hit by “an increase of the cost of inventory holding in 'rubbers', due to the periodic inspection,” said the company
First-half sales of rubber materials rose 1% to Yen7 billion despite a 1% decline in volumes, to 175 kilotonnes for the period.
General purpose rubber volumes were down 2% due to weak exports, while speciality rubber volumes rose 2% on strong domestic sales.