Japan’s Tosoh H1 net profit slumps 97% on shut Nanyo VCM plant

01 November 2012 05:14  [Source: ICIS news]

TOKYO (ICIS)--Tosoh Corp’s net profit in the six months to September 2012 shrank by 97% year on year to yen (Y) 310m ($3.9m) as its largest vinyl chloride monomer (VCM) plant in Nanyo has remained shut since late last year, the Japanese producer said on Thursday.

The 550,000 tonnes/year No 2 VCM unit was severely damaged by an explosion that occurred on 13 November 2011 and was not able to resume operations since then.

The company’s net sales for April-September 2012 declined by 15% year on year to Y311.8bn, while operating profit plunged by 78% to Y4.82bn.

In the chlor-alkali segment, six-month net sales decreased by 21% to Y107.2bn, leading to an operating loss of Y5.07bn, a reversal of a Y100m profit made in the same period last year, according to Tosoh.

The company said its shipments of VCM, polyvinyl chloride (PVC) and caustic soda declined.

 ($1 = Y79.79)

By: Tomomi Yokomura
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index