Toho Titanium Reports Strong 1H24 Sales on Robust Titanium Demand

Toho Titanium

Toho Titanium Records Growth in Sales and Operating Profit

Japanese titanium producer Toho Titanium has reported a significant boost in its sales and operating profit for the six months ending September 30, 2024. The growth is attributed to strong downstream demand, particularly in the aviation, industrial, and semiconductor sectors.

The company achieved total sales of ¥43.8 billion ($284.9 million) during the period, marking a robust 19.7% increase from ¥36.6 billion in the same period of 2023. Operating profit also saw a modest increase, rising to ¥2.4 billion from ¥2.3 billion year-on-year.

Key Growth Drivers: Aviation and Semiconductor Recovery

Toho Titanium credited the steady demand for titanium in aviation and general industrial applications, alongside a recovery in high-purity titanium demand from the semiconductor industry. These factors propelled the company's titanium metal sales to ¥32.8 billion, a notable 19.8% increase compared to the ¥27.4 billion recorded in the first half of FY2023.

Additionally, the company’s catalyst business reported sales of ¥4.8 billion, a 29.7% year-on-year increase from ¥3.7 billion. Sales from the chemicals segment rose to ¥6.2 billion, up from ¥5.7 billion in the same period last year.

Positive Market Outlook for Titanium

The growth in Toho Titanium's financial performance reflects an overall recovery in demand for titanium across key sectors. High-purity titanium is a critical material in semiconductor manufacturing, an industry experiencing a resurgence following supply chain disruptions and increased global demand for advanced chips.

The steady aerospace demand further underscores titanium's indispensable role in lightweight, high-performance materials for modern aircraft. The company remains well-positioned to leverage these market trends to sustain its upward trajectory.