Tokai Carbon Posts First Half Results, Profits Down Substantially

Tokai Carbon reported for the first half of the current fiscal year a 4.2% year-on-year decline in net sales to 170.92 billion yen ($1.17 billion), a 61.2% drop in operating income to 8.43 billion yen, a 56.4% decline in ordinary income to 10.52 billion yen, and a 77.0% drop in net income to 3.66 billion yen. The carbon black business,…