Teijin records higher profit

Teijin records higher profit

12:15 PM, 17th June 2011
Teijin records higher profit

TOKYO, JAPAN: In fiscal 2010, the year ended March 31, 2011, economic conditions were generally favourable worldwide. China and key Association of Southeast Asian Nations (ASEAN) countries continued to enjoy brisk domestic demand-led growth. In the United States, the underlying tone remained encouraging, while in Europe conditions overall remained stable, although the impact of the financial crisis became an issue in certain countries. The Japanese economy was firm, despite the rising value of the yen, buttressed by exports and the implementation of economic stimulus measures.

Against this background consolidated net sales in the period was ¥ 815.7 billion, up 6.5 per cent from fiscal 2009. Operating income soared 3.6 times to ¥ 48.6 billion, while ordinary income advanced ¥ 48.3 billion to ¥ 50.3 billion. Net income amounted to ¥ 25.2 billion compared with a net loss of ¥ 35.7 billion in the previous fiscal year, yielding net income per share of ¥ 25.59, measured against net loss per share of ¥ 36.26 in fiscal 2009.

For the business segment, sales in high-performance fibres segment amounted to ¥ 103.4 billion. Operating income was ¥ 4.4 billion. The carbon fibres demand showed signs of recovery. The polyester fibres segment, generated sales of ¥ 103.5 billion. The segment returned to profitability with operating income of ¥ 3 billion. Sales for the films and plastics segment were ¥ 217.1 billion, while operating income was ¥ 23.4 billion. 

As for the pharmaceuticals and home health care segment, sales amounted to ¥ 136.4 billion and operating income was ¥ 22.9 billion. The trading and retail segment yielded sales of ¥ 216.9 billion, while operating income was ¥ 4.7 billion.

Due to unusual difficulties in determining the future outlook as a result of the March 11 earthquake disaster, forecasts for fiscal 2011 operating results will not be issued, the company said. In the coming months, we will carefully assess the effects of the disaster on our operations, and those of our customers and suppliers, and based on our findings will formulate our operating results forecasts.  

(C) WOC News

 

 

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