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Tosoh reports huge rise in profits

3:42 AM MDT | May 9, 2014 | Deepti Ramesh

Tosoh reports a 75.3% increase in net profits for its fiscal year ended 31 March 2014 compared with the previous fiscal year, to ¥29.6 billion ($291 million). Profits rose sharply, supported by improvements in volumes sold and in trading conditions, Tosoh says. Sales for the past fiscal year increased by 15.5%, to ¥772.3 billion, because of increased domestic product prices following a rise in the cost for naphtha and other raw materials as well as adjustments to export prices based on the weakening of the Japanese currency, Tosoh says. The previous...

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