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Japan Synthetic Rubber Company's Performance Fell Overall

2020-02-27

Recently, Japan Synthetic Rubber Corporation (JSR) released statistical data. In the first three quarters of fiscal 2019, the company realized sales revenue of 359.076 billion yen, a decrease of 4.6% over the same period of the previous fiscal year; operating profit of 29.624 billion yen, a decrease of 21.9% year-on-year. ; Net profit was 18.946 billion yen, a year-on-year decrease of 31.7%.

Data show that JSR performance has declined across the board.

Among the various businesses of JSR, the sales revenue of elastomer business was 136.468 billion yen, a decrease of 10.1% year-on-year; operating profit was 961 million yen, a decrease of 87.1% year-on-year; the sales volume was 465,700 tons, a decrease of 4% year-on-year. Although the company's sBR sales increased by 10%, sales of products other than SSBR decreased by 7% due to the sluggish global automotive and tire markets. Among them, automobile rubber decreased by 10% year-on-year. Analysts said that the decline in sales, coupled with lower raw material prices, led to lower sales prices and affected operating profit growth.

The company forecasts for the full fiscal year ending March 2020, with sales revenue of approximately 483 billion yen, a 2.8% decrease from the previous fiscal year; operating profit of 40 billion yen, a decrease of 7.0% year-on-year; and a net profit of 28 billion yen. A year-on-year decrease of 10.0%. This is roughly the same as the value revised in October 2019. Among them, elastomer business sales revenue was 185.5 billion yen and operating profit was 3 billion yen. However, the company's director and managing director Hideki Miyazaki pointed out that due to the lower-than-expected price of butadiene, the situation of operating income of 3 billion yen was severe. Sales of SSBR are expected to continue to grow, and the company's production facilities in Thailand will operate at full capacity. The Hungarian production site is currently providing samples and is expected to contribute to the company's sales starting from the new fiscal year.

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