Tokyo, Japan—Tosoh Corporation is pleased to announce a revision to its consolidated net income estimate for the 2012 fiscal year as announced on February 16, 2012.
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Under extremely harsh conditions, company initiatives to reduce fixed costs and other measures taken to streamline operations resulted in an upward revised estimate for operating income of ¥4 billion (US $50.7 million). The increase in operating income combined with a business interruption insurance payment and the yen's depreciation, resulted in an updward revised estimate for ordinary income of ¥10 billion (US $126.6 million) and net income of ¥5.9 billion (US $74.7 million).
TOSOH CORPORATION
WHO WE ARE
Tosoh Corporation is a Japanese chemical company established in 1935 and listed on the First Section of the Tokyo Stock Exchange. It is the parent of the Tosoh Group, which comprises 133 companies worldwide and a multiethnic workforce of over 11,000 people and generated net sales of ¥684.4 billion (US$8.2 billion at the year-end rate of ¥83.15 to the US dollar) in fiscal 2011, ended March 31, 2011.
WHAT WE DO
Tosoh is one of the largest chlor-alkali manufacturers in Asia. The Company supplies the plastic resins and an array of the basic chemicals that support modern life. Tosoh's petrochemical operations supply ethylene, polymers, and polyethylene, while its advanced materials business serves the global semiconductor, display, and solar industries. Tosoh has also pioneered sophisticated bioscience systems that are used for the rapid diagnosis of life-threatening diseases, such as diabetes and certain cancers, and to prevent epidemics by identifying pathogenic microbes. In addition, Tosoh develops products and provides services to purify water and to monitor the environment as part of a commitment to a sustainable future.
Stock Exchange Ticker Symbol: JP: 4042