Tosoh reports $2 billion in professional group revenue for 2022 ended March 31

Recently, in Tokyo, Japan, Tosoh announced its full-year consolidated results for fiscal 2022 (from April 1, 2021 to March 31, 202

Operating profit in 2022 was 144 billion yen ($3 billion), an increase of 52 billion yen (60%) year-on-ye.

During the reporting period, the Japanese economy continued to recover from the ongoing impact of the COVID-19 pandemic, driven by progress in vaccinations and a recovery in overseas dema.

Among them, the professional group (including three divisions: chemicals, advanced materials, Tosoh Bioscience) will have revenue of 222 billion yen ($2 billion) in 2021, an increase of 2

Performance by Business Unit

Petrochemical Group

The Petrochemical Group's net sales rose 48 billion yen (39%) to 172 billion yen ($6 billion) from fiscal 202 Group operating income also increased by 0 billion yen (102%) to 17 billion yen ($137 millio.

Shipments of propylene and cumene increased on the back of a recovery in demand and increased producti.

Shipments of polyethylene resin both in Japan and for export rose as demand rebound.

Chlorobase

The Chlor-Alkali Group's net sales rose 88 billion yen (36%) to 366 billion yen ($2 billion), while operating income rose 20 billion yen (64%) to 65 billion yen ($613 million), The reason is the improved terms of trade for polyvinyl chloride (PVC) products and polyurethane raw materia.

Shipments of caustic soda declined, mainly in exports, but product prices rose to reflect rising prices in overseas marke.

Domestic and foreign cement shipments remained stro.

Methylene diphenyl diisocyanate (MDI) in Japan and overseas due to stable operations of a production subsidiary in China, which was suspended in the last fiscal year due to the spread of COVID-19, and a rebound in demand have increas.

Professional group

Net sales of the professional group rose 46 billion yen to 222 billion yen ($0 billion), an increase of 23 perce.

With the recovery of demand, domestic and international shipments of ethylamine products increas.

Exports of LC packaging materials for separation-related products to Europe, the US and China have increas.

With the recovery in demand, shipments of high silica zeolites both in Japan and overseas have increased, mainly for automotive exhaust catalys.

Engineering group

The engineering group's net sales increased by 11 billion yen (5%) year-on-year to 113 billion yen ($0 billio.

The increase in sales in the water treatment business was mainly attributable to the steady progress in the construction of large-scale projects in Japan and overseas, with orders for these projects mainly from the electronics indust.

Sales of the engineering group's construction subsidiary increas.

Auxiliary

Ancillary net sales fell 5 billion yen, or 4 percent, to 33 billion yen ($339 millio.

Operating profit also fell 17 million yen (6%) to 1 billion yen ($26 millio.

Sales at other operating companies, such as trading companies, fe.

An overview of Dongsi's financial position during the reporting period

Total assets increased by 109 billion yen to 1,087 ​​million yen ($7 billion), mainly due to an increase in contract asse.

Total liabilities rose 8 billion yen to 329 billion yen ($9 billion) due to higher bills and accounts payab.

Net assets rose 98 billion yen to 757 billion yen ($8 billio.

This increase is attributed to the current record of net profit for the owners of the parent compa.

An overview of Tosoh's cash flow during the period under review

Cash and cash equivalents rose 14 billion yen to 168 billion yen ($4 billio.

Net cash provided by operating activities was JPY 106 billion (USD 961 million), an increase of JPY 15 billion year-on-ye.

The increase was due to higher pre-tax inco.

Net cash used in investing activities was 45 billion yen ($387 million), down 8 billion yen due to lower fixed asset acquisition expens.

As a result, free cash flow rose by 13 billion yen to 61 billion yen ($572 millio.

Net cash used for financing activities was JPY 59 billion ($511 million), an increase of JPY 54 billion from the previous year due to a net increase in short-term loan repaymen.

Outlook for 2023 (end of March)

Social and economic activity constrained by the impact of COVID-19 is expected to begin normalizing in many major regions of the world, thanks to advances in vaccinati.

However, the Russian invasion of Ukraine and prolonged economic sanctions have amplified downside risks to the global economy through soaring resource prices and other facto.

As such, uncertainty about the outlook for domestic and foreign economic conditions is expected to persi.

Under such circumstances, the Group will remain vigilant against business risks and changes in the business environment, such as the situation in Ukraine and the normalization of the epidemic situation in Japan and overse.

Other factors include a deteriorating supply and demand environment due to various uncertainties, fluctuations in raw material and fuel prices and foreign terms of trade, exchange rate fluctuations, and supply chain disruptio.

Tosoh will strive to secure benefits by reacting quickly and flexibly as the situation develo.

As for fiscal 2023, the deterioration of the situation in Ukraine will significantly increase volatility in the prices of key raw materials and fuels such as naphtha and coal, which will have a significant impact on trade conditions and the difference between inventory receipts and payments, as well as the rapid depreciation of the yen against other currencies influen.

Because of the many uncertainties at the moment and the difficulty of coming up with a reasonable earnings forecast, Tosoh will release its forecast as soon as it believes the situation has stabilized sufficient.

position on financial standards

Tosoh will continue to comply with Japanese financial standards for the foreseeable futu.

At the same time, we are preparing and considering the future application of International Financial Reporting Standards (IFR.

Note: Unless otherwise stated, dollar amounts have been converted from Japanese yen at an exchange rate of 114 yen = $1 (the average exchange rate for the reporting perio.

About TOSOH .

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who are we

Tosoh Corporation is the parent company of the Tosoh Group, which has more than 100 companies worldwide and employs more than 13,600 peop.

Net sales for fiscal 2022 ending March 31, 2022 were JPY 916 billion (USD 2 billion at an average exchange rate of JPY 114 to USD

what are we going to do

TOSOH is one of the largest chlor-alkali producers in As.

The company supplies plastic resins and a range of essential chemicals that support modern li.

Tosoh's petrochemicals business supplies ethylene, polyethylene and functional polymers, while its advanced materials business serves the global semiconductor, display and solar industri.

Tosoh has also pioneered sophisticated bioscience systems for monitoring life-threatening diseas.

In addition, Tosoh demonstrates its commitment to a sustainable future by manufacturing various ecological produc.

Stock Exchange Stock Code: 4042