Japan's Tosoh posts 22% decrease in April-December net profit

04 February 2013 08:14  [Source: ICIS news]

TOKYO (ICIS)--Japanese chemical producer Tosoh Corp has on Monday posted a 22% year-on-year decrease in its nine-month net profit to yen (Y) 5.50bn ($59.3m) due to declined product prices in the overseas market, the company said in a statement.

Operating profit for the nine months to 31 December 2012 fell by 44% to Y11.8bn from the same period a year earlier, while net sales were down by 9.6% at Y474.4bn.

Operating profit in the petrochemicals segment declined by 30% to Y7.21bn year on year, while net sales fell by 9.7% to Y138.5bn because of decreased domestic sales volume of polyethylene (PE) and declined shipments of chloroprene rubber to Europe and Asia, Tosoh said.

($1 = Y92.78)

By: Tomomi Yokomura
+65 6780 4359

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