Ube Industries Ltd. (TYO:4208) has announced plans to split off its synthetic rubber business as a subsidiary, with operations here including R&D, manufacturing and sales. The move is scheduled to be carried out on Oct. 1, forming Ube Elastomer Co. Ltd. as a wholly owned new subsidiary. Engaged in the production and sale of butadiene rubber, Ube Industries’ synthetic rubber...
Leading synthetic rubber manufacturer JSR Corp. (TYO:4185) has announced plans to transfer its elastomers business to Eneos Corp. Due to be completed on April 1, 2022, the deal here will be based on a valuation of 115 billion yen ($1.05 billion). Commenting on the deal, JSR CEO Eric Johnson acknowledged that elastomers have been a core business for JSR since...
Zeon Corp. (TYO:4205) has posted its business results for fiscal 2020, revealing sales revenue of 301.96 billion yen ($2.77 billion), down 6.2 percent year on year, and an operating income of 33.41 billion yen, up 28 percent. Speaking at the results briefing, company director Kazuyoshi Matsuura said that with customer industries having made a recovery in recent months, the January–April...
Toyoda Gosei Co. Ltd. (TYO:7282) has reported its business results for fiscal 2020 and announced its projections for fiscal 2021. The company’s results for last fiscal year saw sales revenue fall 11.2 percent year-on-year to 721.5 billion yen ($6.61 billion), while operating profit rose 103.9 percent to 36.48 billion yen and net profit rose 213.6 percent to 35.21 billion yen....
JSR Corp. (TYO:4185) has announced its earnings forecast for fiscal 2021. The synthetic rubber manufacturer projects that it will be able to generate 468 billion yen ($4.28 billion) in sales revenue, up 4.8 percent year-on-year; 53 billion yen in core operating profit, up 104.1 percent; and 32 billion yen in net profit, a major turnaround from the 55.2 billion yen...
Lanxess KK, the Japanese arm of German chemicals manufacturer Lanxess AG, held an online press conference on April 9 in which President Taiga Harigai presented the firm’s activity plans for fiscal 2021. Based on these plans, Lanxess aims to focus its efforts on three fields in particular: consumer protection, new mobility and additives. More broadly, Harigai noted that the company...
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