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Tosoh Swings to Loss, Downgrades Earnings and Sales Projections

8:48 AM MDT | August 10, 2012 | Deepti Ramesh

Tosoh reported a net loss of ¥2.7 billion ($34.4 million) in its fiscal first quarter ended, June 30, 2012, compared with a net profit of ¥6.3 billion in the corresponding period of the previous fiscal year. First-quarter sales decreased 17.9%, to ¥150.5 billion. Softening prices in overseas markets and the accident at Tosoh’s vinyl chloride monomer (VCM) plant last November impacted the financial results, Tosoh says. A fire broke out following an explosion on November 13, 2011 at the No. 2 VCM plant at the company’s Nanyo complex at...

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