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February 07, 2017 01:00 AM

Zeon reports further drops in nine-month results

European Rubber Journal
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    TOKYO—Zeon Corp. has reported a year-on-year fall in sales and profits in the first nine months of its fiscal 2016, ended Dec. 31.

    In its 9-month results statement released Jan. 30, the Japanese speciality chemicals company said sales in elastomers business fell by 12 percent to $996 million while operating income dropped 17 percent to $120.2 million in the three quarters.

    In terms of volumes, rubber sales dropped 5 percent to 224,000 metric tons with domestic sales of general purpose rubber seeing a 10 percent decline and exports of speciality rubber falling 12 percent.

    For the full fiscal year 2016, Zeon forecast net sales at its elastomers business to come in 6 percent lower year-on-year at $601.7 million and operating income to decline by 2 percent.

    Zeon's English language financial report did not include a commentary on the figures, though Japanese businesses generally have been impacted by the strength of the yen over recent months.

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