Home / Knowledge / News / Textiles / Toray's overall sales of Fibers and Textiles up
Toray's overall sales of Fibers and Textiles up
03
Feb '11
Toray Industries Inc announced its consolidated business results for the nine months ended December 31, 2010 of the fiscal year ending March 31, 2011. The following summary of the business results that Toray submitted to the Tokyo Stock Exchange is unaudited and for reference only.

Overview of the Nine Months Ended December 31, 2010

During the nine months under review, despite concerns over the severe employment situation and the fiscal health of European countries, the global economy on the whole continued to expand sustained by the high-rate growth in China and other Asian emerging economies and the impact of the economic stimulus measures implemented by various governments.

The Japanese economy also, in spite of the tough environment including the continued high unemployment rate, improved across the board, as domestic demand recovered gradually against the backdrop of expanding exports primarily to Asian countries. Nevertheless, the economic growth has been held back since last fall by the impact of the scaling back of the measures to stimulate consumer spending.

Under such circumstances, Toray Group has been working on measures to improve profitability by comprehensively ensuring sales through every possible effort and strengthening cost competitiveness, and actively pursued business expansion under its medium-term management program Project IT-II (Innovation Toray II) launched in April 2009.

Reflecting these efforts, Toray Group's earnings improved for the nine-month period, with consolidated net sales rising 15.0% compared with the same period a year ago to ¥1,126.8 billion (US$13,826 million). Operating income surged 246.6% to ¥70.0 billion (US$858 million). The Group posted ordinary income of ¥68.7 billion (US$843 million), an improvement of ¥75.9 billion from the same period a year earlier, and net income of ¥43.8 billion (US$537 million), a turnaround of ¥63.2 billion year-on-year.

Business performance by segment is described below. The figures for the same period of the previous year used for comparison have been modified according to the reportable segment.

Business Performance by Segment:

Fibers and Textiles
In Japan, demand for industrial-use materials led by airbags and other automotive applications as well as general applications grew strongly while sales volume expanded in apparel applications including garments primarily to major SPAs. Overseas, the polypropylene spunbond business for diapers in Republic of Korea and China expanded, yarn and textile operations for air bag applications in Thailand and Czech Republic, the textile business in China and the polyester fiber business in China, Republic of Korea and ASEAN countries also performed strongly.

Overall sales of Fibers and Textiles rose 11.4% to ¥441.3 billion (US$5,415 million) from the same period a year earlier and operating income increased 150.5% to ¥25.5 billion (US$313 million).

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

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...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Igor Chapurin
Chapurin

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
March 2017

March 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