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Tosoh swings to profit

1:10 AM MDT | November 1, 2013 | Deepti Ramesh

Tosoh reports a net profit of ¥6.4 billion ($65 million) in the fiscal first quarter, ended 30 June, compared with a net loss of ¥2.7 billion in the corresponding period of the previous fiscal year. First-quarter sales increased 16.2%, to ¥175 billion, partly because of the rise in selling prices in Japan as a result of an increase in the costs of naphtha and raw materials, as well as gains on foreign exchange due to the depreciation of the Japanese currency, Tosoh says. The year-ago sales figures were affected by an accident at the No. 2 vinyl...

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