TOKYO—Tosoh Corp. posted a 23.6 percent rise operating income to about $430 million on net sales of about $6.75 billion, 4.5 percent higher the prior year total. Higher sales of rubber materials contributed to the gains, the firm said in a May 11 release disclosing its financials for fiscal 2015.
The sharp rise in earnings for the 12 months to March 31 was attributed to a decline in fuel prices, improved trade conditions with the weakening yen and an increase in unit sales, Tosoh said.
Tosoh is a producer and supplier of chloroprene rubber and chlorosulphonated polyethylene (CSM), a business which is positioned within its Petrochemical Group.
Shipments of both these rubber materials benefited from improved export prices because of the weaker yen, the company reported.
The Petrochemical Group posted net sales for fiscal 2015 of about $1.87 billion, almost on par with the prior year figure. However, the group's operating income fell 53.2 percent to about $60 million, partly because of decreases in prices in line with the decline in naphtha prices.
Sales of urethane raw materials—produced by Tosoh's Chlor-Alkali Group—expanded in Japan in response to firm demand from the automobile-related, construction, medical, and other markets.
Exports of urethane raw materials declined because of a slowing Chinese economy and softening price, the group said.
Net sales for the Specialty Group in fiscal 2015 amounted to about $1.46 billion, an increase of about $180 million, or 14 percent from the group's net sales for the preceding fiscal year. Operating income surged by nearly 56 percent to about $250 million.
Shipments of high-silica zeolites increased, especially for automobile exhaust system catalytic converters. Zirconia shipments for decorative and dental applications likewise increased, as did shipments of electrolytic manganese dioxide for dry cell batteries.