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Tosoh to see profit fall

Japanese chemical maker Tosoh Corp. expected post a 38% fall in group operating profit to JPY 17 billion for the year ending March. Operating profit would be JPY 7 billion below the company“s forecas…

Japanese chemical maker Tosoh Corp. expected post a 38% fall in group operating profit to JPY 17 billion for the year ending March. Operating profit would be JPY 7 billion below the company“s forecast due to weak demand for information technology-related products and slumping prices of vinyl chloride resins and monomers, the newspaper said. Group net profit is expected to fall 79% to around JPY 2 billion, despite an expected three percent rise in sales to JPY 440 billion. The rise in sales is largely due to the fact that water treatment system maker Organo Corp. was made a subsidiary from the second half of the business year. Excluding the effect from Organo, Tosoh“s sales would effectively fall 8%. The firm“s functional products division has suffered declines in sales of items for use by semiconductor manufacturers, such as spattering targets and quartz glass, it was reported.

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