23 April 2013 09:04 [Source: ICIS news]
TOKYO (ICIS)--Japanese chemical producer Tosoh Corp has doubled its forecast for full-year net profit due to the appreciation of yen and improved product prices in the overseas markets, the company said in a statement on Tuesday.
Tosoh now expects its net profit for a full year to 31 March 2013 to be yen (Y) 16bn ($161m), up from the previous forecast of 8bn, announced on 1 November 2012, according to the statement.
The company expects its operating profit for the same period to be Y24bn, a 20% increase from the previous forecast, due to similar reasons, it said.
Full-year net sales are predicted at Y670bn, a 3.1% increase from the previous figure, the company added.
Tosoh is scheduled to announce its full-year financial results on 10 May.
($1 = Y99.41)
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