On May 12, 2021 Kureha Corporation reported that (Press release, Kureha Corporation, MAY 12, 2021, View Source [SID1234580129])

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I. FY2020 Results
Revenue growth driven by higher sales volumes in PVDF (LiB cathodes binder), agrochemicals, home products, fishing lines and environment businesses, partially offset by slower PPS (automobile components), PGA (shale oil and gas drilling tools), packaging materials, and industrial chemicals sales

• Core operating profit improved on higher revenue, coupled with lower fuel and raw materials cost and fewer SG&A expenses
• Operating profit declined primarily due to an impairment loss of ¥1.6bn related to the PGA business
• Profit before taxes decreased as a result of lower operating profit
• Profit attributable to the Company decreased as a result of lower profit before taxes Factors attributing to core operating profit (vs. FY2019)

AM: PGA-related operating loss (¥3bn) more than offsetting PVDF volume growth in the automobile LiB market SC: Higher agrochemicals volumes driven by improved demand and additional large-account sales offsetting declines in pharmaceuticals and industrial chemicals

SP: Robust volume growth in home products and fishing lines partially offset by lower packaging materials volumes
CO: Delays and cancellations of private construction projects offsetting steady public construction volumes
OO: Increased low-PCB waste treatment volumes and temporary volume growth related to post-typhoon wastes in the environment engineering business