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Japan-Update

Japan's Tosoh set to bust through first-half profit goal

Chemical maker churns out urethane materials as supply tightens, prices jump

Tosoh's production of urethane raw materials, made at plants like this one, stayed steady in the April-September half as rivals ran into trouble.

TOKYO -- Japanese chemical maker Tosoh's April-September group operating profit apparently grew 30% year-on-year, greatly surpassing the projected 7% growth for a record first half, as natural disasters and other setbacks hit rival producers of urethane raw materials. 

Operating profit for the half likely reached about 55 billion yen ($489 million). Sales apparently jumped to just under 400 billion yen, beating projected 10% growth to 370 billion yen. The focus will be on whether the company will upgrade its full-year guidance when it reports earnings Oct. 31.

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