The Japanese company, Taiyo Nippon Sanso (TNSC) has announced positive fiscal results for the first quarter of 2011.
Overall the period between 1st April to 30th June 2010 saw moderate recovery driven by particular economic growth in China, Japan and other Asian countries.
In a recent report, TNSC announced increased sales year-on-year to ¥117,005m, an increase of 21.1%. Meanwhile operating income increased by 84.5% to ¥9,304m, similarly recurring income rose by 98.2% to ¥9,381m and net income over the quarter rose 100.7% to ¥5,261m.
A breakdown of the results indicates that sales of oxygen and nitrogen increased thanks to a recovery in the Group’s core customer industries – steel and chemicals. In addition, argon sales rose on the same period during 2009 due to a buoyant stainless steel smelting industry.
In contrast, sales of cutting and welding related materials did not increase over the year. The company has justified this with the ongoing slump in capital investment amongst the machinery and equipment sector. Despite this, sales of ASU’s were maintained year-on-year thanks to significant construction projects running to schedule.