Toyota Textile Machinery Segment net sales up in FY Q3

20 Feb '08

3 min read

Net sales of the Logistics Segment totaled 87.8 billion yen, an increase of 24.0 billion yen, or 38%, as a result of Wanbishi Archives Co., Ltd., which provides services of total information management, becoming a wholly owned subsidiary of Toyota Industries in May 2007.

Net sales of the Textile Machinery Segment totaled 48.7 billion yen, an increase of 6.2 billion yen, or 15%, owing mainly to continued strong sales of weaving machinery to China.

In terms of profit, Toyota Industries' ordinary income amounted to 107.3 billion yen, an increase of 17.6 billion yen, or 20%. Although the expenses for depreciation and personnel and price of raw materials increased, ordinary income rose as a result of an increase in sales in Japan and overseas, enhanced cost-reduction efforts Group-wide and an increase in dividends income.

Net income amounted to 69.0 billion yen, an increase of 17.5 billion yen, or 34%, arising from the posting of proceeds from sales of investment securities as extraordinary gains. Total assets decreased 171.0 billion yen, to 3,414.8 billion yen as a result of a decrease in market value of investment securities. Net assets amounted to 1,710.2 billion yen, a decrease of 100.2 billion yen.

For fiscal 2008, ending March 31, 2008, Toyota Industries forecasts consolidated net sales of 2,000.0 billion yen, operating income of 95.0 billion yen, ordinary income of 120.0 billion yen and net income of 70.0 billion yen.

Toyota Industries Corporation

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