Japanese textile manufacturer Toyobo's net sales reach ¥183.9 bn in H1

25 Nov '21

1 min read

Pic: Albert Karimov | Dreamstime.com

Toyobo Co Ltd, a Japanese textile and fibre manufacturer, has recorded a 16.7 per cent growth in net sales to reach ¥183.9 billion in the six months ended September 2021 (H1) over the same period of the previous fiscal. The operating profit of the group increased to ¥17.1 billion while the profit attributable to owners of parent company increased to ¥9.7 billion.

The growth in sales is attributed to the strong performance of the industrial films business and functional materials business, increase in demand of engineering plastics, airbag fabrics, high-performance fibres and PCR-related products. The engineering plastics and airbag fabrics performed strongly due to the recovery of automobile demand globally while the demand for PCR-related products grew as the spread of COVID-19 has not yet ended, the company said in its financial report.

In the medical materials business, sales of artificial kidney hollow fibre also trended strong.

On the other hand, looking on the balance sheet of the reporting period, the net assets increased by ¥10 billion from the end of the previous fiscal year, to ¥198.6 billion due to an increase in retained earnings and an increase in valuation difference on available-for-sale securities.

Fibre2Fashion News Desk (DD)

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