Japan's Tosoh full-year profit declines 6.3% on VCM shutdown

10 May 2012 10:53  [Source: ICIS news]

TOKYO (ICIS)--Japan’s chemical producer Tosoh Corp on Thursday posted a 6.3% year-on-year decline in its full-year net profit to yen (Y) 9.37bn ($117.1m) because the shutdown of its vinyl chloride monomer (VCM) plant negatively impacted the company’s performance, it said.

Tosoh had shutdown its 550,000 tonne/year No 2 VCM line at Nanyo on 13 November 2011 after an explosion.

Operating profit for the full year to 31 March 2012 decreased 29% to Y23.7bn from Y33.5bn the previous year, while net sales rose 0.4% to Y687.1bn from Y684.4bn.

The chlor-alkali segment recorded a full-year operating loss of Y9.97bn, while it had posted an operating loss of Y3.48bn the previous year, because the exports of caustic soda and VCM decreased due to the prolonged shutdown of the VCM plant, Tosoh said.

($1 = Y80)

By: Tomomi Yokomura
+65 6780 4359

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