20 May 2008 09:24 [Source: ICIS news]
TOKYO (ICIS news)--Japanese chemical producer Zeon Corp has posted a 16.3% year-on-year decrease in its full-year operating income to yen (Y)25.3bn ($242.5m) due to high feedstock costs, the company said on Tuesday.
Net sales during the year ended 31 March increased 7.6% to Y302.9bn, while net income fell 46.8% to Y9.1bn, it added.
In the elastomers segment, both domestic sales and exports of synthetic rubber rose, but it could not offset the rise in feedstock prices, the company said.
As a result, the segment’s full-year operating income decreased 15% to Y16.6bn, while net sales were up 10% to Y195.7bn.
In the performance materials segment, sales of Zeonex resin for optical and medical applications increased, but sales of Zeonor resin for liquid crystal panels (LCD) declined, Zeon said.
The segment's operating income declined 22% to Y7.7bn, while net sales were down marginally to Y47.15bn from Y47.2bn.
($1 = Y104.32)
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