Kuraray has reported net proft of ￥9.1 billion ($85.7 million) for the second quarter, down 30.9% year on year (YOY). Net sales totaled ￥262 billion, down 8.8% YOY. Operating proft plunged 23% YOY to ￥19.6 billion. Sales in Kuraray’s vinyl acetate segment decreased 9.6% YOY to ￥121.8 billion, while segment operating proft dropped 26.7% YOY to ￥16.9 billion. Sales of polyvinyl acetate (PVA) resins declined due to stagnant global demand. Although liquid-crystal display panel manufacturers reduced inventory adjustments, shipments of optical-use poval flm remained fat due to the COVID-19 pandemic. The sales of polyvinyl butyral (PVB) flm were weak for construction and automotive applications. However, sales of water-soluble PVA flm continued to expand for use in unit-dose detergent packets. The sales ethylene vinyl alcohol copolymer increased for food packaging applications, but sales for gas tank applications plunged due to a decline in the number of vehicles produced.
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