Taiyo Nippon Sanso Corporation (TNSC) has released its financial results for the first three quarters of fiscal year 2015, in which weak sales in Japan were offset by M&A activities in the US and Asian industrial gas industry.
The results cover the period from April to December 2015 and show that sales and profit for the Tier One player were up all round, with sales up by 7.5%, operational profit up by 19.1% and ordinary profit up by 18.1%, with the total net profit up by 32.2%.
But despite the company’s finances flourishing, its industrial gas business as a whole for the North Pacific rim country showed overall sales were down by 4%, amounting to ¥240.7bn ($2.2bn), with operating profit across the sector totalling ¥19.9bn ($183.7m).
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