TOKYO—Zeon Corp.'s elastomers division has seen double-digit growth both in sales and operating income in the third quarter of financial year 2021, ending March 2022.
The division posted a 13-percent year-on-year rise in operating profit to $44 million for the three months to end of December, on 13.6 percent higher sales of $426 million, Zeon reported Jan. 31.
Selling prices went up in conjunction with the rise of raw material prices, said Zeon, but the rise was offset by decreased latex shipments.
While synthetic rubber demand was steady, shipments were delayed, especially those to Europe and the U.S., due to the shortage of containers and ships.
As a result, sales fell 2.4 percent quarter-on-quarter, Zeon added.