Zeon raises full year earnings forecast on weaker yen

Tokyo – Zeon Corp. has raised its full-year forecast for consolidated operating profit by 1.6% - Yen55 million (€300,000) – to Yen31 billion, the Japanese group announced 30 Jan.

The upward revision was linked to “the continued depreciation of the yen against the initially assumed exchange rates,” said Zeon.

Meanwhile, the group has lowered its sales forecast for the year ending 31 March by 1.8% - Yen7.5 million – to Yen407.5 billion, on weaker elastomers sales.

Net sales in the elastomer business segment, which includes synthetic rubbers, latexes and chemicals, are expected to decrease due to a decline in selling prices resulting from lower raw material prices.

The lower revenue, Zeon said, is expected to be partially offset by higher sales and operating profit in the ‘speciality material’ business segment, reflecting steady demand for optical films used in large-screen televisions as well as battery materials.