Tokyo, Japan—Tosoh Corporation hereby announce the following revisions to the consolidated earnings forecasts for the first half and full year of the fiscal year ending March 31, 2023, which were announced on May 12, 2022 in the " Tosoh Reports Its Consolidated Results for Fiscal 2022".
- Revised first-half consolidated financial results for fiscal year 2023
(April 1, 2022, to September 30, 2022)
|
Net Sales
|
Operating Income
|
Ordinary Income
|
Profit Attributable to Owners of the Parent Company
|
Earnings per Share (yen)
|
|
Previous forecast (A)
|
-
|
-
|
-
|
-
|
|
|
Revised forecast (B)
|
¥550 billion
|
¥54
billion
|
¥63
billion
|
¥43
billion
|
|
|
Difference (B – A)
|
-
|
-
|
-
|
-
|
|
|
% Difference
|
-
|
-
|
-
|
-
|
|
|
Reference: FY 2022 first-half performance (first half of year ended March 2022)
|
¥429 billion
|
¥65
billion
|
¥69
billion
|
¥46
billion
|
144.68
|
- Revised full-year consolidated financial results for fiscal year 2023
(April 1, 2023, to March 31, 2023)
|
Net Sales
|
Operating Income
|
Ordinary Income
|
Profit Attributable to Owners of the Parent Company
|
Earnings per Share (yen)
|
|
Previous forecast (A)
|
-
|
-
|
-
|
-
|
|
|
Revised forecast (B)
|
¥1,130 billion
|
¥101
billion
|
¥111 billion
|
¥74
billion
|
|
|
Difference (B – A)
|
-
|
-
|
-
|
-
|
|
|
% Difference
|
-
|
-
|
-
|
-
|
|
|
Reference: FY 2021 performance (Year ended March 2021)
|
¥919
billion
|
¥144
billion
|
¥160 billion
|
¥108
billion
|
339.23
|
- Reasons for the difference and revisions
In the "Tosoh Reports Its Consolidated Results for Fiscal 2022" released by the Company on May 12, 2022, the earnings forecast for the year ending March 31, 2022 was not released, because it was difficult to make a reasonable calculation due to many uncertain factors, including the widening range of fluctuations in prices of major raw materials and fuel due to the deteriorating situation in Ukraine. Based on the results for the first quarter of the current fiscal year, Tosoh Corporation is announcing its earnings forecast for the fiscal year ending March 31, 2023, based on the available information.
For the first half of the fiscal year ending March 31, 2023, net sales are expected to increase year on year due to higher selling prices resulting from higher prices of raw materials and fuels such as naphtha and the Japanese yen's depreciation. Operating income is expected to decrease from the same period of the previous year, mainly due to worsening terms of trade for chlor-alkali products, as the impact of higher raw materials and fuel prices, such as naphtha and coal, exceeds the impact of higher sales prices. For the full year, similar year-on-year increases in sales and profits are expected.
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 13,800 people. It generated net sales of ¥918.6 billion (US$8.2 billion at the average rate of ¥112.4 to the US dollar) in fiscal 2022, ended March 31, 2022.
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.