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Regions :: North Asia :: Japan

Tosoh reports fall in profits

3:17 AM MDT | July 31, 2014 | Deepti Ramesh

Tosoh reports a 65.6% decrease in net profits for the company's fiscal first quarter ended 30 June 2014 compared with the year-ago period, to ¥2.2 billion ($21.5 million). First-quarter sales increased 1.7%, to ¥178.1 billion. Sales increased despite scheduled maintenance at an ethylene plant because exports prices for urethane materials increased, Tosoh says. The increase in export prices reflected the weakening Japanese currency and the passing on to product prices the rising costs for naphtha and other raw materials, Tosoh says. Tosoh’s...

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