Tosoh Corporation Reports Consolidated Earnings Results for the First Half Ended September 30, 2018; Announces Interim Dividend for the First Half Ended September 30, 2018 and Provides Dividend Guidance for the Fiscal Year 2019; Revises Earnings Guidance for the Fiscal Year Ending March 31, 2019
November 01, 2018 at 12:36 pm
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Tosoh Corporation reported consolidated earnings results for the first half ended September 30, 2018. For the period, the company reported net sales of ¥424.5 billion against ¥391.7 billion a year ago. Operating income of ¥56.0 billion against ¥54.5 billion, ordinary income of ¥60.7 billion against ¥58.3 billion, profit attributable to owners of the parent of ¥41.7 billion or ¥128.34 per share against ¥40.3 billion or ¥124.17 per share, capital expenditures were ¥31.9 billion against ¥18.1 billion a year ago. Cash flow from operating activities was ¥22.5 billion against ¥33.0 billion a year ago. The increase in revenue was attributable to higher sales prices driven by an increase in the price of naphtha and by rising overseas product markets, and to progress in the Engineering Group's plant projects in the electronic industry. This rise in ordinary income was due to foreign exchange gains. Profit attributable to owners of the parent company totaled ¥41.7 billion, an increase of ¥1.4 billion, or 3.4%, over the same term the previous year.
The company announced interim dividend of ¥28.00 per share compared to ¥12.00 per share paid in last year. The company expected to pay dividend of ¥28.00 per share for the fiscal year 2019 compared to ¥32.00 per share paid in last year.
The company revised earnings guidance for the fiscal year ending March 31, 2019. For the year, the company now expected net sales of ¥880 billion compared to ¥850 billion as previously forecasted, operating income of ¥100 billion compared to ¥110 billion as previously forecasted, ordinary income of ¥105 billion compared to ¥105 billion as previously forecasted, profit attributable to owners of the parent of ¥71.0 billion or ¥218.66 per share compared to ¥76 billion or ¥234.07 per share as previously forecasted. Capital expenditure is expected to be ¥67.0 billion. Depreciation and amortization is expected to be ¥32.0 billion.
Tosoh Corporation is one of the Japanese largest chemical groups. Net sales break down by activity as follows:
- manufacturing of chemical products (37.5%): caustic soda, , vinyl chloride monomer, polyvinyl chloride, etc.;
- production of specialty materials (24.6%): fine chemistry products, diagnosis products, electronic materials, etc.;
- manufacturing of petrochemical products (17.9%): olefins, polymers, etc.;
- services (14.5%): transportation, warehousing, support services, etc.;
- other (5.4%).
Net sales break down geographically as follows: Japan (54.5%), China (14%), Asia (19.7%) and other (11.8%).
Tosoh Corporation Reports Consolidated Earnings Results for the First Half Ended September 30, 2018; Announces Interim Dividend for the First Half Ended September 30, 2018 and Provides Dividend Guidance for the Fiscal Year 2019; Revises Earnings Guidance for the Fiscal Year Ending March 31, 2019