Tokyo – JSR Corp. has posted a big rise in earnings at its elastomers business for the first three quarters of its current fiscal year, ended 31 March.
Operating profit for the business rose 141% year-on-year to Yen13.1 billion (€105 million) for the nine months to the end of last year.
The improvement was driven by “improved profit margin from higher sales”, said a 28 Jan company statement.
The positive trend offset “increased costs caused by the rise in raw material prices,” according to JSR.
Revenue grew 10.8% to Yen145.4 billion for the nine-month period, the Japanese materials supplier continued.
This, it said, reflected increases in product prices in-line with raw-material price hikes at the end of the previous financial year.
Overall, sales volume in the elastomers business “somewhat declined” during the first three quarters, said JSR.
However, the company added that ‘an upward trend can now be seen.’