Japan's Kuraray posts 13% increase in fiscal Q1 net profit

01 August 2013 12:55  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical and fibre producer Kuraray posted on Thursday a 13% year-on-year increase in its fiscal first-quarter net profit to yen (Y) 6.56bn, partly on higher profit in the isoprene segment.

Net sales in the three months to 30 June 2013 rose by 5.2% to Y93.2bn ($950m) year on year, while operating profit fell by 11% to Y10.4bn, the company said in a statement.

In the isoprene segment, net sales fell by 0.2% year on year to Y11.8bn. Operating profit increased by 60% to Y24.2bn, partly due to recovering demand for thermoplastic elastomers, while demand for fine chemicals was sluggish, Kuraray said. 

Net sales in the vinyl acetate segment grew by 18% year on year to Y43.6bn, while operating profit declined by 1.2% to Y11.8bn.

($1 = Y97.73)

By: Tomomi Yokomura
+65 6780 4359

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