Home / Knowledge / News / Textiles / Tosoh sales down 9.6% in nine months of FY'13
Tosoh sales down 9.6% in nine months of FY'13
20
Feb '13
Tosoh Corporation is pleased to announce its consolidated results for the first nine months of its 2013 fiscal year. The company’s consolidated net sales for the period ended December 31, 2012, amounted to ¥474.4 billion (US$5.9 billion), a decline of ¥50.7 billion, or 9.6%, from the same nine-month period a year earlier.

Operating income was ¥11.8 billion (US$147 million), a decrease in operating income of ¥9.0 billion, or 43.5%, from the same period in fiscal 2012. Ordinary income, meanwhile, fell ¥3.2 billion, or 17.9%, to ¥14.5 billion (US$182 million). Net income for the first nine months of fiscal 2013 totaled ¥5.5 billion (US$69 million), a decline of ¥1.5 billion, or 21.8%, from the same period in fiscal 2012.

Tosoh continued to deal with harsh conditions during the first nine months of its 2013 fiscal year. The Japanese economy demonstrated signs of recession despite being buoyed by domestic demand from earthquake recovery projects. This was largely because of a drop in external demand related to stagnation in European economies and a slowdown in China’s economy.

The company’s consolidated sales during the nine months under review suffered from more than declining demand. Tosoh also faced a softening of overseas market prices and the ongoing fallout from the accident at its Nanyo Complex’s No. 2 Vinyl Chloride Monomer Plant in November 2011.

Declining unit sales and worsening trade conditions resulting from softening market prices for ethylene and other products in turn eroded operating income for the period under review. Only a reversal of the yen’s prolonged appreciation in the latter half of the period mitigated the drop in ordinary income by improving foreign exchange translation adjustments.

Results by business segment

Petrochemical Group

Petrochemical Group net sales for the first nine months of fiscal 2013 contracted ¥14.8 billion, or 9.7%, compared with group net sales for the same period the year before, to ¥138.5 billion (US$1.7 billion). The group’s operating income slid ¥3.1 billion, or 30.0%, to ¥7.2 billion (US$90 million).

Shipments of ethylene, propylene, and other olefins contracted because of lower production volume resulting from scheduled plant maintenance and other factors. Shipments of cumene also declined because of the impact of scheduled plant maintenance and as a result of a drop in demand for derivatives.

Polyethylene resin shipments were at low levels, particularly in the domestic market. Among other factors, the decline can be attributed to reduced shipments of ethylene vinyl acetate copolymer because of dropping demand for sealant film for solar cells and an increase in competitive imports. Shipments of chloroprene rubber decreased because of falling demand from Europe and Asia.

Chlor-alkali Group

The Chlor-alkali Group’s net sales for the first three quarters of fiscal 2013 decreased ¥25.4 million, or 13.2%, compared with net sales over the same period a year earlier, to ¥166.1 billion (US$2.1 billion). The group improved its operating income by ¥1.3 billion from the nine-month period a year before but still recorded an operating loss of ¥4.7 billion (US$59 million).


Must ReadView All

East India can draw Rs 30,000 cr in petrochem  by 2030

Textiles | On 21st Nov 2017

East India can draw Rs 30,000 cr in petrochem by 2030

East India has the potential to attract Rs 30,000 crore investments...

Egypt’s textile exports increase 3% in 10 months: TEC

Textiles | On 21st Nov 2017

Egypt’s textile exports increase 3% in 10 months: TEC

Exports by Egypt’s Textile Export Council (TEC) between January and...

UKFT turns sector skills body for UK fashion, textile sector

Textiles | On 21st Nov 2017

UKFT turns sector skills body for UK fashion, textile sector

The UK Fashion & Textile Association (UKFT) recently announced at a...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search