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Tosoh reports huge rise in profits; upgrades earnings, sales projections

6:31 AM MDT | November 1, 2013 | Deepti Ramesh

Tosoh reports a net profit of ¥14.1 billion ($144 million) in the fiscal first half, ended 30 September, compared with a net profit of ¥310 million in the corresponding period of the previous fiscal year. First-half sales increased 17.3%, to ¥365.7 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 hurt by an accident at the No. 2 vinyl...

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