Tosoh has recorded a net profit of ￥2.4 billion ($29 million) for its fiscal first half ended September 30, 2010, compared with a net loss of ￥2.2 billion in the corresponding period of the previous year. Sales increased 8.2%, to ￥322.1 billion. Tosoh’s petrochemicals business segment reported an 11% rise in first-half sales, to ￥86.5 billion, compared with the year-ago period and operating profits for the segment increased 9.3%, to ￥2.8 billion. Sales of olefins declined during the first half because of lower production caused by scheduled plant maintenance. Product prices however rose in Japan and overseas in reaction to the higher naphtha prices, Tosoh says. Domestic sales of polyethylene resins increased supported by a surge in demand for ethylene vinyl acetate copolymer, but worsening trade conditions dampened exports Tosoh says. Tosoh increased its prices for polyethylene resins during the first half as a result of higher prices for naphtha.
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