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Toray Microfiber Textile Biz registers strong growth in Europe

06 Aug '08
5 min read

In the films business, sales of Lumirror polyester (PET) film advanced in solar cell applications. Sales of Torayfan polypropylene film, used in capacitors for hybrid vehicles, also expanded steadily.

As a result, total sales of Plastics and Chemicals increased 8.9% year-on-year to ¥106.8 billion (US$1,004 million), reflecting expanded transaction amounts at the trading subsidiaries.

On the other hand, operating income fell 15.0% to ¥3.5 billion (US$33 million), hurt by sharp rises in fuel and raw material prices.

Among IT-related products, sales of display materials including films used in flat panel displays and liquid crystal color filters as well as coatings for semiconductors grew strongly.

On the other hand, sales of circuit and graphic materials remained sluggish and shipment of liquid crystal-related manufacturing equipment decreased.

As a result, sales of IT-related Products fell 6.1% to ¥62.3 billion (US$586 million) compared with the same period a year earlier, while operating income suffered a 41.9% decline to ¥3.6 billion (US$34 million).

In the Carbon Fiber Composite Materials segment, there was strong growth in demand, primarily in aircraft and industrial applications.

The Company is also actively pursuing development of new applications with focus on the crucial fields of automobile, environment and energy applications.

In the short term, the tight market condition for general-purpose field has started easing off as companies expanded production, while sales of products for high-end applications such as aircraft and space grew steadily.

On the whole, the Carbon Fiber Composite Materials registered a year-on-year sales increase of 2.0% to ¥19.7 billion (US$185 million).

On the other hand, operating income fell by 11.8% to ¥3.3 billion (US$31 million) compared to the same period of the previous fiscal year, due to rising fuel and raw materials costs and exchange rate fluctuations as well as the effect of the increase in depreciation cost for the new facilities that started operations in Japan and Europe in the third quarter of the last fiscal year.

In the Environment and Engineering segment, sales of the water treatment membrane business led by reverse osmosis membrane element registered brisk growth in general, though performance at a water treatment engineering subsidiary slumped.

Condominium and construction business at a domestic subsidiary saw strong growth and machinery exports at a trading subsidiary also expanded.

As a result, overall sales of the segment grew 17.5% on year to ¥38.6 billion (US$363 million), though the segment posted an operating loss of ¥0.7 billion (US$7 million) due to increase in expenses following the expansion of water treatment business and a slowdown in large-scale construction orders at the domestic engineering subsidiary.

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Toray Industries Inc

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