Japanese textile manufacturer Toyobo posts FY21 sales of ¥337 bn

22 Jun '21

2 min read

Pic: Shutterstock

Toyobo Co Ltd, a Japanese textile and fibre manufacturer, has posted 0.6 per cent sales decrease to ¥337.4 billion (Japanese yen) in its fiscal 2021 ended on March 31, 2021, compared to sales of ¥339.6 billion in the previous fiscal. The company’s operating profit for the year rose 16.9 per cent to ¥26.6 billion (FY20: ¥22.8 billion).

Gross profit for FY21 increased to ¥90.3 billion (¥84.4 billion), while selling, general and administrative expenses were ¥63.7 billion (¥61.6 billion). Ordinary profit increased to ¥20.7 billion (¥18.0 billion). However, Toyobo’s profit attributable to owners of parent slipped to ¥4.2 billion (¥13.7 billion).

Sales of films and functional materials surged to ¥152.9 billion (¥127.2 billion), due to the strong performance of the films business. While lifestyle and environmental segment sales during FY21 dropped to ¥109.5 billion (¥128.8 billion) due to high-performance fibres and textiles being sluggish, caused by a decline in demand due to the spread of the Covid-19 infections.

In its outlook for fiscal 2022, the company expects that it will take time for the global economy, including Japan, to normalise due to the effect of shortage of semiconductors and price increase of raw materials and fuel, which became extra factors in the second half of the fiscal year, on top of the resurgence of the Covid-19 infection cases.

Fibre2Fashion News Desk (JL)

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