Japan: Tokai Carbon’s GE sales plummet 63% y-o-y in H1 CY20

During Jan-Jun’20, Tokai Carbon’s GE segment sales plunged to 20,927 million yen against 57,052 million yen in H1 CY19 whereas operating income plunged by 95% y-o-y basis. The decreased operations in the steel industry due to COVID-19 outbreak and worsening of steel market conditions amid the global economic slowdown started last year, negatively affected GE sales volume and prices in H1 CY20.