Tokyo, Japan—Tosoh Corporation announces a revision to its full-year fiscal 2016 consolidated results forecast of May 11, 2015. The revision is based on recent performance trends.
Revised Full-Year Forecast for Fiscal 2016 (April 1, 2015–March 31, 2016)
| | Net Sales | Operating Income | Ordinary Income | Net Income | EPS |
| Previous forecast (A) | ¥810 billion | ¥67 billion | ¥67 billion | ¥43 billion | ¥71.76 |
| Revised forecast (B) | ¥760 billion | ¥71 billion | ¥70 billion | ¥44 billion | ¥69.43 |
| Difference (B - A) | (¥50 billion) | ¥4 billion | ¥3 billion | ¥1 billion | |
| % difference | (6.2) | 6.0 | 4.5 | 2.3 | |
| Reference:
FY 2014 performance | ¥809.7 billion | ¥51.4 billion | ¥60.2 billion | ¥62.3 billion | ¥103.97 |
Reasons for the Revision
Fiscal 2016 full-year net sales are expected to be less than previously forecasted because of declines in domestic and overseas product prices caused by falling prices for crude oil, naphtha, and other raw materials. Full-year profits, conversely, are expected to be greater than previously forecasted because of the falling prices for naphtha and other raw materials and because of improved trade conditions, among other considerations. And full-year earnings per share are forecasted to be lower than previously forecasted because of the company’s issuance of additional equity in July 2015.
Please note that the full-year forecast for fiscal 2016 is based on information available at the time of writing this press release. Unforeseen factors could cause Tosoh’s performance to differ from projections.
TOSOH CORPORATION
WHO WE ARE
Tosoh Corporation is the parent of the Tosoh Group, which comprises over 100 companies worldwide and a multiethnic workforce of over 11,000 people and generated net sales of ¥809.7 billion (US$6.7 billion at the year-end rate of ¥120.17 to the US dollar) in fiscal 2015, ended March 31, 2015.
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, polyethylene, and functional polymers, 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. In addition, Tosoh demonstrates its commitment to a sustainable future in part by manufacturing a variety of eco-products.
Stock Exchange Ticker Symbol: 4042
DISCLAIMER
This document may contain forward-looking statements, including, without limitation, statements concerning product development, objectives, goals, and commercial introductions, which involve certain risks and uncertainties. Forward-looking statements are identified through the use of the word anticipates and other words of similar meaning. Actual results may differ significantly from the results expressed in forward-looking statements.