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Tosoh Corp. net profit down

Japanese vinyl chloride monomer giant Tosoh Corp saw its unconsolidated net profit plunge 83.6% for the first half of fiscal 2001 (March-September 2001) to JPY 456 million, the company said in a recen…

Japanese vinyl chloride monomer giant Tosoh Corp saw its unconsolidated net profit plunge 83.6% for the first half of fiscal 2001 (March-September 2001) to JPY 456 million, the company said in a recent statement. Tosoh“s pre-tax profit and sales profit also plummeted by 52.2% and 34.9% to JPY 4.9 billion and JPY 7.2 billion, respectively. Total sales slipped 0.7% to JPY 202.8 billion. The lower profits were attributed to weak demand caused by the sluggish domestic and internal economies, and high naphtha feedstock costs. For the petrochemical sector, pre-tax profit fell by 20.6% to JPY 2.34 billion, while sales rose 4.2% to JPY 66.6 billion. Tosoh“s ethylene and propylene sales volume rose, but aromatics sale declined. Tosoh is Asia“s largest VCM maker.

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