Tokyo, Japan— Tosoh Corporation has revised the full-year fiscal 2020 consolidated financial results it forecasted on May 9, 2019.
Revised full-year consolidated financial results for fiscal year 2020 (April 1, 2019, to March 31, 2020)
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Net Sales
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Operating Income
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Ordinary Income
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Profit Attributable to Owners of the Parent Company
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Earnings per Share (yen)
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Previous forecast (A)
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¥860 billion
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¥95 billion
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¥100 billion
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¥67 billion
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206.32
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Revised forecast (B)
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¥800 billion
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¥84 billion
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¥86 billion
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¥57 billion
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175.53
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Difference (B – A)
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-¥60 billion
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-¥11 billion
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-¥14 billion
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-¥10 billion
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% Difference
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-7.0
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-11.6
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-14.0
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-14.9
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Reference: FY 2019 performance (Year ended March 2019)
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¥861 billion
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¥106 billion
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¥113 billion
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¥78 billion
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240.62
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Reasons for the differences and revisions
Domestic and overseas demand stagnated because of downward pressure on product prices caused by ongoing trade friction between the United States and China, declining naphtha prices, deteriorating overseas market conditions, and the continuing appreciation of the yen. Given these and other factors, we anticipate that net sales for the fiscal year ending March 31, 2020, will not reach our original forecast. Expected decreases in the prices of raw materials, such as naphtha and coal, may result in improved market conditions. But the impact of our less than originally forecast net sales is anticipated to be significant enough that we expect our profits, too, will fall short of our forecast of May 9, 2019.
Note: Forecasts are based on information available to the company as of the date of the news release. Actual results may differ due to unforeseeable factors.
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 12,000 people and generated net sales of ¥861.5 billion (US$7.8 billion at the average rate of ¥110.9 to the US dollar) in fiscal 2019, ended March 31, 2019.
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.