Taiyo Nippon Sanso Corporation hasn’t escaped the economic crisis unscathed, but strategies put in place to ensure it gets the most out of a tough business environment have been effective.
Business conditions in 2008 were tough for TNSC; the global financial crisis caused major downturns in the Japanese economy, prices of raw materials and fuels rocketed, and there was a rapid appreciation of the yen against major currencies.
Among the principle industries of the TNSC Group, the steel and electronics industries were hit by weak demand, resulting in drastic production cutbacks.
The cutbacks resulted in a sharp drop-off in demand for gases; the decline in demand from large-lot users of oxygen, such as steel and chemicals manufacturers, meant demand for the gas dwindled, shipments and sales of argon all fell from the previous year’s level, owing to steep falls in demand for stainless steel smelting, welding, and the manufacture of silicon crystals.
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