Japan's Kuraray year-to-March profit rises 2.1%, net sales up 12%

25 April 2014 06:25  [Source: ICIS news]

TOKYO (ICIS)--Kuraray Co posted a 2.1% increase in its full-year net profit to yen (Y) 29.4bn ($287m), partly on higher earnings from its isoprene segment, the Japanese chemical producer said on Friday.

Operating profit for the year ended 31 March 2014 inched up by 0.7% to Y49.5bn, with net sales up 12% at Y413.5bn, the company said in a statement.

In the vinyl acetate segment, operating profit fell by 4.5% year on year to Y46.7bn, although net sales increased by 16% to Y179.3bn.

Lower earnings from the segment was partly attributed to declines in sales volume of optical-use polyvinyl alcohol (PVOH) films amid sluggish demand for liquid crystal display (LCD) televisions (TVs), while sales of soluble PVOH films grew, the company said in a statement.

Operating profit in the isoprene segment, meanwhile, increased by 41% to Y5.47bn from the previous year, backed by an 18% increase in net sales to Y53.0bn.

($1 = Y102.36)

By: Tomomi Yokomura
+65 6780 4359

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