Taiyo Nippon Sanso has released its first-half 2012 fiscal reports. Over this period the company reported a 1.1% decline in year-on-year sales to ¥234,799m, though overseas sales appreciated.

Operating income also slipped 12.5% to ¥15,774m, while ordinary income fell 10.3% to ¥16,005 million and net income declined 17.7% at ¥8,414m.

In a press statement released by TNSC the firm noted a recovery in some industrial gas sectors. The firm remarked, “Demand in key customer industries such as steelmaking and chemicals is gradually recovering after a sharp drop at the beginning of the period due to the earthquake disaster, but sales of oxygen, nitrogen and argon were all slightly down a year-on- year. Sales of machinery and equipment too were significantly down due to shrinking demand from major capital investment projects such as air separation plants, though in Japan sales of welding and cutting equipment and materials were up.”

Meanwhile, overseas markets saw an appreciation in sales year-on-year. Sales of industrial gases increased 1.1% year-on-year to ¥144,608 million, while operating income edged up 0.9% to ¥11,155 million.