Home / Knowledge / News / Textiles / Fibers and Textiles segment sales drop at Toray
Fibers and Textiles segment sales drop at Toray
16
Aug '12
Toray Industries Inc announced its consolidated business results for the  three months ended June 30, 2012, the first quarter of the year ending March 31, 2013. The following summary of the business results that the Company submitted to the Tokyo Stock Exchange is unaudited and for reference only. 
 
In the period under review, while the U.S. economy continued to recover, albeit at a slow pace, the European sovereign debt problems affected the region’s real economy. At the same time, growth in exports and investment slowed in emerging countries. On the other hand, the Japanese economy continued to recover at a gradual pace on the back of demand related to reconstruction from the Great East Japan Earthquake and the effect of stimulus measures for automobile consumption. Demand for apparels, flat-screen TV sets and IT-related products, which was relatively strong both in Japan and overseas in the first half of 2011, has been affected by the worldwide economic slowdown since last fall. While currently in a recovery phase, the demand has not recovered to the level of the same period a year earlier. 
 
Under such circumstances, Toray Group has been implementing the growth strategy with focus on pursuing business expansion in growth business fields and growth regions and further bolstering its total cost competitiveness in accordance with the medium-term management program “Project AP-G 2013” launched in April 2011. 
 
As a result, consolidated net sales for the three months ended June 30, 2012 declined 2.9% compared with the same period of the previous fiscal year to ¥364.1 billion (US$4,591 million). Operating income fell 36.7%  to ¥17.3 billion (US$218 million) and ordinary income decreased 34.3% to ¥19.1 billion (US$241 million). Net income declined 43.3% to ¥10.1 billion (US$127 million). 
 
In Japan, sales of industrial-use materials in general grew strongly fueled by factors including rising sales for automotive applications reflecting production expansion by automobile manufacturers. Demand for apparel applications, however, remained weak due to the unseasonal weather in  early spring as well as other factors. 
 
Overseas, in addition to sluggish demand in Asia given the impact of the economic slowdown in the U.S. and Europe, both production and sales continued to be affected by the floods in Thailand following the fourth quarter of the previous fiscal year. As a result, overall sales of Fibers and Textiles fell 4.6% to ¥135.8 billion (US$1,712 million) from the previous  year and operating income declined 13.9% to ¥8.7 billion (US$110 million). 

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search