TOKYO—Asahi Kasei reported a 2.3 percent drop in net sales to about $17.9 billion, citing declines in petrochemical products and lower oil and naphtha prices as the primary factors.
Sales in its chemicals and fiber sector decreased 12.5 percent to $7.66 billion. The firm said market prices deteriorated most notably for acrylonitrile.
In its performance polymers segment, Asahi Kasei said terms of trade improved due to lower feedstock costs, and sales of engineering plastics and synthetic rubber for fuel-efficient tires were firm.