Japanese PVC profits fall

Feb 25, 1998 01:00 AM

Jan. 9, 1998 Japanese firms that specialise in processing PVC resin are facing an earnings downturn amid higher feedstock prices.
For the fiscal year ending March 31, Mitsubishi Plastics Inc. projects a 43 % decline in pre-tax profit, while rival Plas-Tech Corp. foresees a 66 % decline. Even Toyo Chemical Co., which expects a smaller interest burden to lift its pre-tax profit slightly, forecasts a 7 % dip in its operating profit.
The price of virgin PVC polymer, used by the firms as raw material, rose by 18 yen per kilo in October 1996 and by another 12 yen per kilo in July 1997.
One official at Mitsubishi Plastics grouses that the firm was in the process of passing along the first increase to customers when the second increase took effect. As a result, the company's cost of goods sold as a percentage of sales rose 2.9 percentage points in the fiscal first half, to 80.4 %.

Source: not available
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« February 2021 »
February
MoTuWeThFrSaSu
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28

Register to announce Your Event

View All Events