Tokyo – JSR Corp.’s elastomers unit has reported a loss of Yen300 million (€2.48 million) in operating profit for the six months to end of September, the Japanese materials supplier reported 28 Oct.
The figure compares to a profit of Yen4.7 billion posted for the first half of 2018.
JSR linked the decline to price competition, as well as "repairment cost increase and evaluation losses."
The unit’s sales also fell 8% to Yen99.4 billion during the period, due mainly to a “severe [low] demand environment”.
Sales volume for the period fell 3% year-on-year to 309 kilotonnes, despite higher sales of solution styrene butadiene rubber (SSBR).
Based on the first-half development, the company has lowered its full year elastomers sales projections to Yen185 billion, from the original Yen200 billion.
Operating profit has also been revised down to Yen30 million, compared to Yen55 million originally forecast for the year.
JSR manufactures elastomer and resin products, including styrene butadiene rubber and butadiene rubber, as well as emulsion polymers.