Tosoh Reports Its Consolidated Results for the First Nine Months of Fiscal 2020

Tokyo, Japan—Tosoh Corporation hereby provides notice of differences between the fiscal 2021 first-half consolidated results it forecasted on August 3, 2020, and the actual financial results for the first half that it released today. Given recent trends, the company also announces the full-year fiscal 2021 consolidated financial results it was unable to forecast on August 3, 2020.

Differences between forecasted and actual consolidated results for the first half of fiscal 2021 (April 1, 2020 to September 30, 2020)

 

Net Sales

Operating Income

Ordinary Income

Profit Attributable to Owners of the Parent Company

Earnings Per Share (yen)

Previous forecast (A)

¥330 billion

¥11 billion

¥11 billion

¥4 billion

12.37

Actual value (B)

¥328 billion

¥18 billion

¥18 billion

¥12 billion

36.48

Difference
(B – A)

-¥2 billion

¥7 billion

¥7 billion

¥8 billion

 

% difference

-0.5

60.4

63.4

192.8

 

Reference: FY 2020 performance (Year ended March 2020)

¥396 billion

¥40 billion

¥42 billion

¥27 billion

82.44

Full-year consolidated financial results for fiscal 2021 (April 1, 2020 to March, 31, 2021)

 

Net Sales

Operating Income

Ordinary Income

Profit Attributable to Owners of the Parent Company

Earnings Per Share (yen)

Previous forecast (A)

Revised forecast (B)

¥700 billion

¥60 billion

¥61 billion

¥38 billion

118.84

Difference (B – A)

 

% difference

 

Reference: FY 2020 performance (Year ended March 2020)

¥786 billion

¥82 billion

¥86 billion

¥56 billion

171.03

First-half fiscal 2021 actual vs. forecast

Profits for the first half of the fiscal year exceeded our previous forecast due to a decrease in fixed costs as a result of curbing sales activities and a reduction in write-downs based on the lower of cost or net realizable value method. An improved profit margin in the water treatment business as a result of cost reductions in projects and other endeavors was also a contributing factor.

Full-year fiscal 2021 forecast

As noted in the news release "Tosoh Reports First-Quarter Consolidated Results for Fiscal 2021" issued on August 3, 2020, there were some uncertain factors, including the impact of the spread of the coronavirus, that made it difficult to rationally calculate the full-year forecast at that time. At present, the virus continues to spread in many countries, including Japan. There is no prospect of an end to the outbreak, or its impact on the Tosoh Group.

The forecast that is presented above for the full year is based on the assumption that demand for many of our products, which was impacted by the coronavirus, will recover moderately toward the end of the fiscal year. In terms of prices, overseas product market conditions, which plummeted in the first half of the fiscal year, are expected to improve. This forecasted improvement, centered around polyvinyl chloride (PVC) and urethane products, is attributed to the anticipated recovery in overseas economies, including China. These improved conditions are expected to remain at a certain level in the second half of the fiscal year. And the improved trade conditions for PVC and urethane products, along with a forecasted increase in shipments for a wide range of products, are expected to drive increases in sales and profits compared with the first half of the fiscal year.


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.

Get the Full Release with Summary

A list of quarterly consolidated business results and summaries is available HERE »
For more information, please contact

 

Gina Lau
International Public Relations
Tosoh Corporation

[email protected]
Tel: +81 3 5427 5118
Fax: +81 3 5427 5198