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Business Results for the 1st Quarter, FY ending March 2018

    The first quarter of FY ending March 2018’s Results

  • Both sales and operating profit (OP) increased sharply YoY. Moreover, it showed great progress toward our target which we announced in April.

  • Petrochemical Products Business: Both sales and OP increased YoY.

  • Both sales and OP of the Elastomer business increased sharply YoY. That was because spread between sales price and raw material price was sharply widen as a result of sales price revision among the recovery in the market condition since the second half of last year as well as sales volume increase.

  • Both sales and OP of the Plastic business also increased YoY mainly because of export sales increase.

  • Fine Chemicals and other Businesses: Both sales and OP increased YoY.

  • The sales of the Semiconductor materials business grew significantly YoY. That was attribute to the sales growth of the materials for cutting-edge processes in our major customers and strong demand in the semiconductor industry.

  • In the Display materials business, the sales were steady thanks to sales increase of our main products.

  • In the Life Sciences business, we continued to focus on launching the business and invest for growth in the fields related to antibody drugs.


  • From this quarter, IFRS (International Accounting Standard) has been applied.

  • We have not revised the projection for the FY ending March 2018.

Business Results for FY ending March 2017

    The FY ended March 2017’s Results
  • The operating profit of the FY ended March 2017 decreased YoY mainly due to the negative impact of the stronger yen compared to the previous year. However, it was significantly higher than our revised target which we announced in October thanks to the recovery in the Petrochemicals market.
  • Petrochemicals Business: Both the sales and the profit of the Elastomer business increased YoY. The earnings jumped up in the second half of the fiscal year because of the recovery in the market condition and expansion in sales. The second phase of our SSBR plant in Thailand began full-scale operation.
  • Fine Chemicals and other Businesses: The profit decreased YoY due to the negative impact of the stronger yen even though the sales exceeded the previous year. In the Semiconductor materials business, the sales of the materials for cutting-edge processes grew steadily. In the Display materials business, the sales increased YoY in rapidly growing Chinese market even with intensified competition.

  • The FY ending March 2018’s Projection
  • We forecast that earnings of FY ending March 2018 will exceed the results of FY ended March 2017. Sales: 405.0 billion yen, Operating Profit: 35.0 billion yen.
  • Petrochemicals Business: We aim to gain benefits from the wider margin spread thanks to the recovery in the market condition and increase sales volume by full-scale operation in our SSBR plant in Thailand.
  • Fine Chemicals and other Businesses: In the Semiconductor materials business, we aim to expand sales of the materials for cutting-edge processes. In the Display materials business, we aim for further increase in our Chinese market share. In the Life Sciences business, we expect further growth in the fields related to antibody drugs.
  • The new medium-term management plan “JSR20i9” starts from FY ending March 2018. There willbe unforeseeable business condition for the time being, however, we aim for solid future growth.

Business Results for the 3rd Quarter, FY ending March 2017

    The 3rd Quarter’s Results

  • Both the sales and the profit of the 3rd quarter exceeded those of the previous quarter. That was attributed to weaker yen to dollar and recovery in the earnings of the Petrochemicals business, mainly the Elastomers business.

  • The Cumulative 3rd Quarter’s (April to October) Results

  • Both the sales and the operating profit of the cumulative 3rd quarter decreased from the previous year due to the negative impact of the stronger yen compared to the previous year.

  • Both the sales and the profit of the Petrochemicals business decreased from the previous year. Although there was increase in export sales volume of SSBR by full operation of our plant in Thailand, the negative impact of the delay in the recovery of the spread margin and the stronger yen exceeded it.

  • In the Fine chemicals and other businesses, despite increase in sales volume of main products in the Semiconductor materials business and the Display materials business, both the sales and the profit decreased from the previous year. That was because of the negative impact of the stronger yen and the tough competition in the Display materials business.

Business Results for the 1st Half, FY ending March 2017

  • The business results of the 1st half of FY ending March 2017 ended significantly lower than the earnings guidance presented earlier owing to following factors: the continued appreciation of the yen, as well as a slump in domestic tire demand and the spread margin deterioration in the Elastomers business. However, the results were varied by business segments.

  • In the Elastomers business, while the net sales volume of SSBR grew steadily despite sluggish domestic tire demand situations, the overall earnings fell from the previous year. That was attributed to appreciation of the yen and the spread margin deterioration. The earnings of the Plastics business also decreased from the previous year because the negative impact of the worsening spread margin and stronger yen exceeded the positive impact of the decline in raw material prices.

  • In the Fine chemicals and other businesses, despite increase in sales volume of main products in the Semiconductor materials business and the Display materials business, the total earnings decreased from the previous year. That was because of tough competition in the Display materials business and the negative impact of the stronger yen.

  • We have revised down the annual earnings guidance considering the progress of our business results until the 1st half. Exchange rate is assumed 100 yen / the U.S. dollar. For the Elastomers Business, the net sales volume (mainly SSBR) will grow steadily despite stagnation in domestic tire demand. For the Plastics business, the sales volume (mainly export) is expected to increase. For the Fine chemicals and other products business, we expect demand situations in customers’ industries will be solid on the whole. Overall, we forecast the earnings in 2nd half will exceed 1st half levels despite the negative impact of yen’s appreciation.

Business Results for the 1st Quarter, FY ending March 2017

  • The business results of the 1st quarter of FY ending March 2017 made slow progress on the 1st half earnings guidance, however, the results were varied by business segments.

  • In the Petrochemical Products Business, while the net sales volume of SSBR surged from the previous year, overall sales volume increased slightly from the previous year. The earnings of the Petrochemical Products Business resulted in only slight increase from the previous year due to continued stagnation in domestic tire demand. The earnings of the Elastomers business also resulted in only slight increase from the previous year because the negative impact of the rapid appreciation of the yen offset the positive impact of improving buy-sell spreads. The earnings of the Plastics business decreased sharply from the previous year because its profitability declined due to stronger yen and so on.

  • In the Fine chemicals and other businesses, despite increase in sales volume, the sales decreased from the previous year mainly caused by negative impact of the stronger yen. This was also because of tough competition and slow demand in the Display materials business.

  • For the 2nd quarter of the FY ending March 2017, we expect some improvement in the earning of the Petrochemical Products Business thanks to gradual recovery of the buy-sell spreads. For the Fine chemicals and other products business, we expect sales growth in Semiconductor materials business and the Display materials business.

Business Results for FY ending March 2016

  • The business results of FY March 2016 fell significantly below the annual guidance. This was attributable to slowdown of demands surrounding the company’s core businesses, especially rapid aggravation of the market demands and the yen’s appreciation in the 4th quarter gave impacts.

  • In the Petrochemicals business, both net sales and profit were down from the previous year. Even though Plastics business showed the solid performance through the year, deterioration of the Elastomers business exceeded it. This was due to the stagnation of domestic tire production, slowdown of demand growth in Asian market, and the worsening market conditions.

  • In the Fine chemicals and other businesses, net sales increased, but profit decreased from the previous year. Even though sales of the Life Sciences business substantially expanded, Display materials business plunged sharply due to the demand slowdown of our customers.

  • We forecast that earnings guidance for FY March 2017 will remain almost unchanged from FY March 2016, assuming that low growth of each business market and stronger yen trend will continue for the time being.

Business Results for the 3rd Quarter, FY ending March 2016

  • The business results until the 3rd quarter were attributed to the following two factors: further decline of the raw material prices in Petrochemicals business and the market slowdown in both Semiconductor and Display materials businesses.

  • The earnings of Petrochemicals business remained unchanged from the previous year because of a decline in raw material prices, even with sluggish demand situation.

  • Life Sciences business substantially expanded compared to the previous year. However, the earnings of the Fine chemicals and other businesses fell down from the previous year because the Fine chemicals businesses slowed down sharply.

  • We do not expect further worsening of business conditions in the 4th quarter even though the demand situation is expected to remain in severe circumstances.

Business Results for the 1st Half, FY ending March 2016

  • The business results of the 1st half of FY March 2016 exceeded its earnings guidance presented earlier. The progress of each business segments was varied.

  • In the Elastomers Business, the operating income decreased from the previous year due to stagnation in demand of tires and automobiles, especially in Japan, and the continuous weak market. However, the net sales of S-SBR surged from the previous year supported by further contribution of our S-SBR plant in Thailand.

  • In the Fine Chemicals and Other Product Businesses, in spite of positive impact from weaker yen, the operating income resulted in a marginal increase due to the following factors. For semiconductor materials, the demands at our advanced customers slowed down due to transition period toward new generation process. For display materials, the demands were also weaken by a decline in capacity utilization rate of our customers.

  • For the FY March 2016, we expect to reach the full year OP guidance. S-SBR will continuously push up the earnings of Petrochemical Products Business despite continuous sluggish market conditions. In addition, cutting-edge semiconductor materials will grow further to give positive impact on the Fine Chemical and Other Products Business even with the uncertain market conditions.

Business Results for the 1st Quarter, FY ending March 2016

  • Overall, the business results for the 1st quarter of FY March 2016 progressed in line with the 1st half earnings guidance, however, the results were varied by business segments.
  • In the Petrochemical Products Business, the net sales of S-SBR surged from the previous year supported by the contribution of our new S-SBR plant in Thailand. However, the earnings of the Petrochemical Products Business decreased sharply from the previous year due to stagnation in demand of tires and automobiles, especially in Japan, and the continued weaken market.
  • In the Fine chemicals and other businesses, despite the steady market conditions and weaker yen to dollar, the operating income of the Fine Chemicals and Other Product Business declined due to the slowdown in demand of semiconductor materials during transition period toward new generation process at our customers.
  • For the 2nd quarter of the FY March 2016, we expect modest improvement in the earning of the Petrochemical Products Business, thanks to recovery of the butadiene market. For the Fine Chemicals and Other Products Business, we also expect demand recovery mainly in cutting-edge semiconductor materials used for the new generation process.

Business Results for FY ending March 2015

  • The business results of FY March 2015 didn't reach the annual guidance due to the slowdown of demand surrounding the company in the 2nd half, especially further deterioration of petrochemicals business environment. On the other hand, both net sales and profit surged from the previous year thanks to the significant progress of in Fine chemicals.

  • Earnings of the Petrochemicals business sharply dropped from the previous year because of the net sales decrease caused from a weakening of the market as well as the delay of our new S-SBR plant (JSR BST Elastomer Co., Ltd) in Thailand.

  • In the Fine chemicals and other businesses, both net sales and profit significantly surged from the previous year, driven by expanding net sales in our cutting?]edge products in Semiconductor materials business and steady performance in Display materials business.

  • Earnings guidance for FY March 2016 is likely to be below expectations. This is mainly due to a continuously sluggish market in the Petrochemicals business and the structural reform JSR implements. However, we expect net sales and profit in FY March 2016 will increase because of the further growth in the Fine Chemicals business.

Business Results for the 3rd Quarter, FY ending March 2015

  • The business results until the 3rd quarter well progressed and exceeded the annual guidance line, supported by the continuous good shape of Fine chemicals business and JPY depreciation to USD.
  • The supply and demand balance in petrochemical market has still been loose. Thus, the earnings of Petrochemicals business have underperformed the budget plan. On the other hand, the operating profit has gradually been improving, because of the raw materials cost decrease and sales volume increase in the new plant in Thailand.
  • In the Fine chemicals and other businesses, the operating profit significantly increased from the previous year, driven by expanding sales in Semiconductor materials business and steady performance in Display materials business.
  • We have revised up the annual earnings guidance considering the progress of our business results until the 3rd quarter and full contribution of the new plant in Thailand. However, we have also taken account of negative effects for the 4th quarter, such as seasonal factors in Fine chemicals business and sharp drop of raw materials price.

Business Results for the 1st Half, FY ending March 2015

  • Our business results for the 1st half slightly exceeded our earnings guidance, though business performance to date against the guidance has varied from business to business.
  • In the Petrochemical business, operating income sharply decreased from the previous year because of the spread margin deterioration caused from a weakening of the market, and the less sales volume than the budget including the products made in our new S-SBR plant in Thailand.
  • In the Fine Chemicals and Other Products segment, the operating income significantly increased from the previous year, supported by steady performance in the semiconductor materials business.
  • We will achieve the full year earnings guidance since our new S-SBR plant in Thailand will fully contribute to recovery of the Elastomer business, although there will be some adjustments due to seasonality in the Fine Chemicals business.

Business Results for the 1st Quarter, FY ending March 2015

  • The overall business results for the 1st quarter of FY Mar. 2015 progressed in line with the 1st half earnings guidance, however, the results were varied by business segments.
  • In the Petrochemical Products Business, the net sales and operating income decreased from the previous year due to sluggish market condition and sales volume decline, even though demand for tires and automobiles remained steady. We expect profitability to improve in the 2nd quarter, since our shipments are forecast to expand, including full contribution of our new S-SBR plant in Thailand.
  • In the Fine Chemicals and Other Products Business, the net sales and operating income exceeded the previous year, significantly driven by sales growth of the Semiconductor Materials Business. We estimate the current momentum will continue in the Fine Chemicals and Other Products Business thanks to further growth of the cutting-edge semiconductor materials.

Business Results for FY ending March 2014

  • Business results for FY Mar. 2014 were slightly below our earnings guidance. While our customer?fs industries in general performed poorly, we saw net income decrease from FY Mar. 2013 due to deterioration of non operating income/expenses, though we managed to exceed net sales and operating income for FY Mar. 2013.
  • In the Petrochemicals business, net sales and operating income grew from FY Mar. 2013 thanks to our efforts to expand sales, though synthetic rubber demand was slow to recover. Our new S-SBR plant in Thailand (JSR BST Elastomer) started commercial production in Mar. 2014, and its start-up expenses weighed on operating income FY Mar. 2014.
  • In the Fine Chemicals and Other Products business, net sales and operating income increased from FY Mar. 2013, supported by solid performance in the FPD materials business and the depreciation of the yen. Although the semiconductor market was sluggish, the launch of our cutting-edge semiconductor materials progressed steadily.
  • The business environment in the FY Mar. 2015 is likely to remain uncertain throughout the year. Under this circumstance, we will achieve a solid growth of operating income with the commitment of our new mid-term business plan ?gJSR20i6?h, which starts in April 2014.

Business Results for the 3rd Quarter, FY ending March 2014

  • Until the consolidated cumulative 3rd quarter, sales saw a solid increase despite a general stagnation in customers's industries. However, revenues have been falling a little short of the full-year earnings guidance.
  • The Petrochemical Products Business saw operating income rise year-on-year in the cumulative 3rd quarter, while operating income for the 3rd quarter alone decreased due to a delay in the recovery of synthetic rubber demand and an increase in product evaluation losses and other operating expenses.
  • The Fine Chemicals and Other Products Business achieved a year-on-year growth in operating income for the cumulative 3rd quarter, supported by continued robustness in the FPD Materials Business and the weakening of the yen. Advanced semiconductor materials are seeing a steady start-up.
  • In the 4th quarter, we will strive to achieve the earnings guidance for the full fiscal year due to the growth of the Elastomer Business owing to the recovery of tires and automobile demand, as well as to the full-scale launch of advanced semiconductor materials.

Business Results for the 1st Half, FY ending March 2014

  • The 1st half results were weak due to stagnation in customers' industries and softening market conditions, but they settled at a level near the anticipated earnings line in the 1st half earnings guidance.
  • The Petrochemical Products business saw operating income rise year-on-year despite sluggish tire and automobile demand thanks to a rebound starting in the 2nd quarter in demand for rubber for use in fuel-saving tires as well as a reduction in operating expenses.
  • Fine Chemicals and Other Products business on the whole experienced somewhat of a decline year-on-year as the expansion in the FPD Materials business was more than offset by sluggishness in the Semiconductor Materials business and increased expenses for upfront investment.

Business Results for the 1st Quarter, FY ending March 2014

  • Results for the first quarter FY ending March 2014 were in line with the guidance incomes for 1st half.
  • In the Petrochemical products business, operating income exceeded last year's level as fluctuations in operating costs offset the slowdown in automobile and tire demands and a decline in the petrochemical market.
  • In the Fine Chemicals and Other Products business, overall operating income maintained last year's level thanks to healthy FPD Materials sales which offset sluggish growth in the Semiconductor Materials business and the increase in costs owing to upfront investment.

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