Japan's Tosoh posts Y2.74bn net loss in Q1 on VCM unit shutdown

02 August 2012 06:15  [Source: ICIS news]

TOKYO (ICIS)--Japan’s Tosoh Corp posted on Thursday a net loss of yen (Y) 2.74bn ($34m) in the first three months of its financial year from a profit of Y6.28bn in the same period a year earlier due to vinyl chloride monomer (VCM) plant shutdown.

Tosoh had to shut its 550,000 tonnes/year No 2 VCM line at Nanyo in Yamaguchi prefecture in November 2011 after an explosion.

The shutdown of the plant contributed to an ordinary loss of Y3.61bn, registered in the three months to 30 June 2012, Tosoh said.

The company also recorded an operating loss of Y1.76bn during the first quarter, compared with an operating profit of Y10.4bn a year earlier, while net sales were down 18% year on year to Y150.5bn.

In the chlor-alkali segment, which includes VCM and PVC operations, an operating loss of Y5.05bn was recorded in the first quarter, while net sales fell 25% year on year to Y51.4bn, according to Tosoh.

($1 = Y78.50)


By: Tomomi Yokomura
+65 6780 4359



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