Zeon elastomers’ business posts lower sales, earnings

Tokyo – Zeon Corp.’s elastomers business has reported a 13% year-on-year decline in profit for the first nine months of its financial year.

Operating income stood at Yen14.4 trillion (€115 million) for the three quarters to 30 Dec 2018, down from Yen16.6 trillion a year before.

Sales for rubber materials remained flat at Yen1,000 trillion, although volumes fell 4% to 256 kilotonnes.

Sales of general-purpose rubbers showed a 6% decline, due partly to lower exports, while  speciality rubber volumes remained flat for the period.

Net sales across Zeon’s elastomers’ business rose 2% to Yen1,500 trillion, helped by higher raw material prices.

Zeon also noted a delay in passing on price rises within the export market.