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TEIJIN Synthetic Fibers segment Q3 sales up

Feb '07
TEIJIN LIMITED released Consolidated Financial Results for the Third Quarter of FY2006. The fiscal years of Teijin Limited and its domestic subsidiaries and affiliates mainly end on March 31, while the fiscal years of its overseas subsidiaries and affiliates end on December 31.

Therefore, the third-quarterly financial information herein for fiscal 2006, ending March 31, 2007, includes the accounts primarily for the nine months ended December 31, 2006, of Teijin and its domestic subsidiaries and affiliates, and the accounts mainly for the nine months ended September 30, 2006, of its overseas subsidiaries and affiliates.

In the first nine months of fiscal 2006, consolidated net sales amounted to ¥748.0 billion, an increase of 9.3% from the corresponding period of the previous fiscal year. Operating income rose 1.0%, to ¥57.8 billion, while ordinary income declined 5.0%, to ¥49.5 billion. Net income climbed 27.6%, to ¥32.3 billion. Net income per share was ¥34.66, up ¥7.48 from the first nine months of the previous fiscal year.

Business Segment Results
Synthetic Fibers - Compared with the first nine months of fiscal 2005, sales in the Synthetic Fibers segment rose 14.6%, to ¥217.9 billion, and operating income increased 17.7%, to ¥13.6 billion.

Polyester Fibers Sales were hampered by soaring raw materials prices and fuel costs worldwide. In light of this situation, in Japan Teijin Fibers Limited actively promoted sales price adjustments, as well as stepped up efforts to establish new business models such as ECO-CIRCLE, our environment-friendly, closed-loop recycling system for polyester fibers.

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