Tokyo, Japan—Tosoh Corporation is pleased to announce an upward revision to its consolidated net income forecast for the 2012 fiscal year.
Please read the details here »
The revision results from a December 22, 2011 final ruling by Japan's intellectual property high court in favor of Tosoh in its dispute with Miyoshi Oil & Fat Co., Ltd., over a patent for a fly ash chelating agent, for which damages of ¥1.8 billion are to be paid to Tosoh. Miyoshi Oil & Fat Co., Ltd., unsatisfied with the intellectual high court’s ruling, proceeded to appeal to the Japan Supreme Court on December 26, 2011, but afterwards on February 15, 2012, withdrew its appeal. In line with the result of this dispute, Tosoh records extraordinary income of ¥1.8 billion, necessitating the revision to its fiscal 2012 net income forecast.
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