Tosoh reports fall in profits

Tosoh recorded a 21.8% fall in net profits for its fiscal first 9 months, ended 31 December 2012, compared with the year-ago period, to ¥5.5 billion ($58.8 million). Nine-month sales decreased 9.6%, to ¥474.4 billion. Operating profits for the first 9 months decreased by 43.5%, to ¥11.8 billion. Tosoh says that it continued to face a harsh business environment during the first 9 months of the fiscal year. The Japanese economy demonstrated signs of recession despite being buoyed by domestic demand from earthquake recovery projects; this was largely...

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