JSR elastomers unit reports 88% drop in operating profit

Tokyo – JSR Corp. has reported a sharp decline in operating profit for its elastomers business in the three months to end of June, due in part to weak demand environment.

Operating profit fell 88% to Yen2.5 billion (€21.1 million) on 8% lower sales of Yen49.7 billion, JSR reported in its first quarter results 29 July.

Overall sales volumes fell 6% to 152,000 tonnes in the first quarter, although SSBR volumes rose, JSR said.

The company attributed the decline to “a sharp deterioration” in market conditions and the…

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