Japan's JSR Q1 net profit inches up 1%; net sales fall 1.3%

29 July 2013 09:41  [Source: ICIS news]

TOKYO (ICIS)--JSR Corp posted a 1% year-on-year increase in its first-quarter net profit to yen (Y) 6.88bn ($70m), backed by higher product prices and aided by the depreciation of the Japanese yen, the producer said on Monday.

Operating profit for the three months to 30 June 2013 rose by 6.8% year on year to Y9.31bn from the same time a year earlier, while net sales was down by 1.3% to Y91.7bn.

In the synthetic resins segment, the company generated an operating profit of Y907m, up by 87% year on year largely on higher prices, although net sales declined 3.8%  to Y12.7bn on weaker demand for the resins for automotive applications, the company said.

In the elastomers segment, operating profit rose by 7% to Y4.71bn, even with a 4.8% fall in net sales to Y47.1bn.

($1 = Y98.19)

By: Tomomi Yokomura
+65 6780 4359

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