Toray records profits higher pricing

Toray records profits on higher pricing

5:14 PM, 8th June 2011
Toray records profits on higher pricing

TOKYO, JAPAN: Toray Industries Inc announced its consolidated business results for the fiscal year ended March 31, 2011 (FY Mar/11) today. Toray posted consolidated net sales for the fiscal year ended March 31, 2011 of ¥ 1.53 trilion ($ 18,506 million), up 13.2 per cent compared with a year earlier. Operating income surged 149.5 per cent to ¥ 100.1 billion ($ 1,203 million) from the previous fiscal year. Toray group had a net income of ¥ 57.9 billion ($ 696 million), an improvement of ¥ 72.1 billion compared with the previous year.


The group recorded loss on disaster of ¥ 1.9 billion to account for damages on some of its business bases caused by the Great East Japan Earthquake.


For business performance by segment, the sales of fibers and textiles in the fiscal year ended March 31, 2011 rose 11.2 per cent to ¥ 584.1 billion ($ 7,021 million) from the previous year and operating income soared 98.8 per cent to ¥ 32.4 billion ($ 390 million). In the plastic and chemicals segment, sales increased 14.9 per cent to ¥ 382.3 billion ($ 4,595 million). Operating income jumped 134.2 per cent to ¥ 27.1 billion ($ 326 million). For IT-related products segment, sales rose 13.7 per cent to ¥ 262 billion ($ 3,149 million) and operating income increased 68.9 per cent to ¥ 42.2 billion ($ 508 million).


Considering the carbon fibre composite materials segment, the sales increased 32.2 per cent to ¥ 67 billion ($ 806 million) on year. Operating income came to ¥ 3.3 billion ($ 39 million), an improvement of ¥ 8.6 billion compared with a loss for the previous fiscal year. In the environment and engineering segment, overall sales of the segment rose 11.5 per cent to ¥ 178.2 billion ($ 2,142 million). Operating income declined 13 per cent to ¥ 3.3 billion ($ 40 million). As for the life science segment, sales increased 12.4 per cent year-on-year to ¥ 52.4 billion ($ 630 million) and operating income of the segment improved 124.3 per cent to ¥ 6.1 billion ($ 74 million).


While uncertainties such as the impact of the earthquake exist, the group, expects to improve earnings and reach consolidated net sales of ¥ 1,650 billion ($ 20,122 million) for the fiscal year March 31, 2012, operating income of ¥ 110 billion ($ 1,341 million), ordinary income of ¥ 109 billion ($ 1,329 million) and net income of ¥ 67 billion ($ 817 million).

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