Tosoh Corporation has posted nonoperating income (insurance reimbursement), as detailed below, in the fiscal year ended March 31, 2013.
1. Details of Nonoperating Income (Insurance Reimbursement)
A determination has been made on how to apportion the insurance money relating to the explosion and fire at the company's Nanyo Complex (Shunan City, Yamaguchi Prefecture) No. 2 Vinyl Chloride Monomer Plant that occurred on November 13, 2011, and that resulted in the company and its consolidated subsidiaries receiving insurance money.
The company has posted insurance income of ¥6,861 million as nonoperating income in its consolidated financial statements for the fiscal year ended March 31, 2013. The first portion of that sum, ¥3,250 million, has been posted as nonoperating income in the second quarter of the fiscal year ended March 31, 2013. The final portion of the insurance money, ¥3,611 million, has been posted in the fourth quarter.
2. Impact on Earnings
The aforementioned nonoperating income is reflected in the company’s Report on Consolidated Results based on Japanese accounting standards for the Fiscal Year Ended March 31, 2013, released today, May 10, 2013.
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 132 companies worldwide and a multiethnic workforce of over 11,000 people and generated net sales of ¥668.5 billion (US$7.1 billion at the year-end rate of ¥94.05 to the US dollar) in fiscal 2013, ended March 31, 2013.
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 monitoring 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
Disclaimer
This document contains forward-looking statements, including, without limitation, statements concerning product development, objectives, goals, and commercial introductions, which involve certain risks and uncertainties. The forward-looking statements are also identified through the use of the word anticipates and other words of similar meaning. Actual results may differ significantly from the expectations contained in the forward-looking statements.