Tosoh Corp. Reports Consolidated Earnings Results for the First-Quarter Ended June 30, 2018; Provides Earnings Guidance for the Year Ending March 31, 2019
August 01, 2018 at 07:16 am EDT
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Tosoh Corp. reported consolidated earnings results for the first-quarter ended June 30, 2018. For the quarter, the company's net sales were JPY 204.4 billion compared to JPY 190.4 billion a year ago. Operating income was JPY 24.7 billion compared to JPY 21.4 billion a year ago. Ordinary income was JPY 28.1 billion compared to JPY 23.6 billion a year ago. Profit attributable to owners of the parent JPY 19.2 billion or JPY 59.08 per share compared to JPY 16.5 billion or JPY 50.79 per share a year ago. The increase in Net Sales were attributable to increases in prices for fuel and raw materials, such as naphtha, the resulting rise in petrochemical product prices; and a strengthening of markets overseas. The gain in operating income resulted from an increase in sales prices that exceeded the increases in fuel prices and, in turn, improved trade conditions.
For the year ending March 31, 2019, the company expects net sales of JPY 850.0 billion, operating income of JPY 110.0 billion, ordinary income of JPY 112.0 billion, profit attributable to owners of the parent of JPY 76.0 billion or JPY 234.07 per share.
Tosoh Corporation is one of the Japanese largest chemical groups. Net sales break down by activity as follows:
- manufacturing of chemical products (37.5%): caustic soda, , vinyl chloride monomer, polyvinyl chloride, etc.;
- production of specialty materials (24.6%): fine chemistry products, diagnosis products, electronic materials, etc.;
- manufacturing of petrochemical products (17.9%): olefins, polymers, etc.;
- services (14.5%): transportation, warehousing, support services, etc.;
- other (5.4%).
Net sales break down geographically as follows: Japan (54.5%), China (14%), Asia (19.7%) and other (11.8%).
Tosoh Corp. Reports Consolidated Earnings Results for the First-Quarter Ended June 30, 2018; Provides Earnings Guidance for the Year Ending March 31, 2019