Tosoh Corporation Announces Consolidated Earnings Results for the Year Ended March 31, 2015; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2016
May 10, 2015
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Tosoh Corporation announced consolidated earnings results for the year ended March 31, 2015. For the year, the company net sales were ¥809.7 billion, operating income was ¥51.4 billion, ordinary income was ¥60.2 billion, net income was ¥62.3 billion, and net income per share was ¥103.97 compared to net sales of ¥772.3 billion, operating income of ¥41.6 billion, ordinary income of ¥49.5 billion, net income of ¥29.6 billion, and net income per share of ¥49.35 a year ago. Cash flows from operating activities were ¥54.1 billion compared to ¥67.2 billion a year ago. Capital expenditures were ¥33.1 billion compared to ¥23.7 billion a year ago. Factors contributing to the increase included an expansion in unit sales, particularly by the company's specialty operations, and a hike in export sales prices because of the shift in foreign exchange markets to a weakening yen. Profits again rose sharply year on year. Operating performance benefited from, among other factors, the decline in fuel prices, an improvement in trade conditions because of the weakening yen, and an increase in unit sales. That sharp rise in net income resulted from the booking of substantial deferred tax assets associated with the carryforward losses of Nippon Polyurethane Industry Co. Ltd. (NPU), which were assumed by Tosoh.
For the fiscal year ending March 31, 2016, the company expects net sales of ¥810.0 billion, operating income of ¥67.0 billion, ordinary income of ¥67.0 billion, net income of ¥43.0 billion, net income per share of ¥71.76, and capital expenditures of ¥27.0.
Tosoh Corporation is one of the Japanese largest chemical groups. Net sales break down by activity as follows:
- manufacturing of chemical products (37.5%): caustic soda, , vinyl chloride monomer, polyvinyl chloride, etc.;
- production of specialty materials (24.6%): fine chemistry products, diagnosis products, electronic materials, etc.;
- manufacturing of petrochemical products (17.9%): olefins, polymers, etc.;
- services (14.5%): transportation, warehousing, support services, etc.;
- other (5.4%).
Net sales break down geographically as follows: Japan (54.5%), China (14%), Asia (19.7%) and other (11.8%).
Tosoh Corporation Announces Consolidated Earnings Results for the Year Ended March 31, 2015; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2016