India, Feb. 10 -- ZEON Corporation reported higher operating income in its synthetic rubber business in the third quarter, as stronger overseas shipments and a weaker yen offset lower selling prices linked to falling raw material costs.

The elastomer business, which includes synthetic rubbers, recorded quarterly net sales of about USD 357 million, down 4 per cent year on year but up 2 per cent from the previous quarter. Operating income rose 29 per cent quarter on quarter to around USD 19 million, leaving margins broadly stable at about 5 percent.

The company said selling prices declined in line with lower raw material costs, particularly butadiene. Asian butadiene prices averaged USD 875 per tonne in the quarter, down sharply fro USD 1...