Tosoh Reports On First Half FY 2000
December 4, 2000
While the first half of fiscal 2000 saw increasing investment in IT- related fields in the Japanese economy, low consumer spending continued to exercise negative impact. In the chemical industry, although domestic shipments rose in response to a recovery of demand, the surge in the price of naphtha was severely detrimental to profit. Under these conditions, Tosoh's efforts were directed toward securing sales quantity, adjusting sales prices, streamlining operations and strengthening the foundation of businesses. As a result, Tosoh posted net sales of JPY 204.3 billion, an increase of JPY 29.4 billion over the first half of the previous year. Income before extraordinary items and taxes totaled JPY 10.2 billion, up by JPY 5.1 billion over the corresponding period of last year. Net income, which includes a JPY 8.7 billion expense related to adopting the new Japanese accounting standard for retirement and severance benefits, totaled JPY 2.8 billion, an increase of JPY 794 million over the first half of the previous year.