Tokyo – Tosoh saw MDI shipments increase over the year financial year, which ended in March, but the export price fell because the Yen appreciated against a number of other currencies.
The firm said it had spent around JPY 3bn ($26m) on research and development in its chloralkalai business unit which contains polyurethanes.
In a filing, which was published on the Japanese stock market on 28 June, the company said a major thrust of the work was to produce all- MDI low-density automotive seat cushions with low VOC emissions. The company said it is also developing a low viscosity curing agent for automotive clear top coats, raw materials for synthetic leather coatings and a chemical resistant paint for plastics coatings.
Over the course of the 2017 financial year, net sales across the company fell from JPY 753 trn to JPY 743 trn and operating income rose by JPY 60.2% to JPY 111 trn because of ‘improved terms of trade on the back for raw fuel and other factors.’
