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Prior Releases: October 28, 2009: Tosoh to Acquire Mabuhay Vinyl October 15, 2009: Tosoh Increases CSM Capacity May 29, 2009: Tosoh Posts Losses for Fiscal Year 2008 April 17, 2009: Tosoh Corporation Shuffles Top Management March 19, 2009: Tosoh Reorganizes Its European Operations February 25, 2009: Tosoh Announces FY 2008 3Q Consolidated Results
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From:
TOSOH Quartz Date: October 29, 2009 Re: Tosoh Revises Earnings Outlook for Fiscal 2010 (April 1, 2009 - March 31, 2010) Tokyo, Japan - Tosoh Corporation has revised its consolidated earnings targets for fiscal 2010 (April 1, 2009 - March 31, 2010). The revision projects a 20.0% drop in operating income, to ¥20.0 billion (US $222.0 million), and a 44.4% slide in net income, to ¥5.0 billion (US $55.4 million), compared with the earnings forecast announced by the company on May 12, 2009. Tosoh also has made revisions to the consolidated results it anticipates for the first half of fiscal year 2010. Net sales are expected to decrease 4.0% from the previous first-half forecast, to ¥297.7 billion (US $3.3 billion). Operating income is expected to drop 37.5%, to ¥2.5 billion (US $28.0 million). And net income is projected to post a loss of ¥2.2 billion (US $24.4 million). The decreases on a consolidated basis are attributed to declines in sales and profitability for subsidiaries in our specialty operations. Foreign markets are expected to continue to grow while an increase in the cost of raw materials will result in price adjustments for Tosoh's core product lines. However, a complete recovery in demand is not forecast, and therefore the revised outlook is for net sales to remain the same as previously estimated and for profitability to decrease for the entire fiscal year 2010. Tosoh's full-year fiscal 2010 forecasts are based on a domestic production price for naphtha of ¥41,175 per kiloliter. In dollars, our forecasts are based on an exchange rate of ¥92.77 to the US dollar. Revised Consolidated Forecast for the First Half (April 1, 2009–September 30, 2009) of Fiscal Year 2010 (April 1, 2009–March 31, 2010) ¥ millions
*Based on standard accounting practices in Japan, ordinary income represents income before extraordinary items and taxes. Extraordinary items include, for example, gain (loss) on the sale of fixed assets and gain (loss) on the sale of stock. Revised Consolidated Forecast for Fiscal Year 2010 (April 1, 2009 - March 31, 2020) ¥ millions
TOSOH Quartz Inc. and TOSOH Quartz Japan lead the industry in the production of quartz glass products for use by the semiconductor industry in the manufacture of integrated circuits. TOSOH Quartz Inc. has been operating in the Portland area since 1970 and in Durham, England since 1993, and along with sister companies TOSOH Quartz Japan and TOSOH Quartz Co. Ltd. Taiwan, are members of TOSOH Corporation's Electronic Materials Division. TOSOH is a multi-national
Corporation headquartered in Tokyo. TOSOH Corporation, with its
special strengths in materials technologies, continues to generate an
array of cutting edge products including inorganic chemicals,
petrochemicals, and other specialty materials that support our modern
lifestyles. Globally,
TOSOH
Quartz companies include: TOSOH
Quartz, Inc.,
Portland, OR TOSOH CORPORATIONWHO WE
ARE WHAT WE DO Stock Exchange Ticker Symbol: 4042 For more information, please contact:Michael Hoover Tel: +81-3-5427-5118
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