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Teijin Limited reports FY19 sales of ¥855 billion
12 May 20 2 min read
Teijin Limited, a technology-driven global group, posted 3.9 per cent sales decrease to ¥853.7 billion (Japanese Yen) in FY19 compared to ¥888.6 billion in FY18. This decline was attributed to the impact of generic products in Europe and US on a mainstay pharmaceutical, sluggish market conditions for polycarbonate resin, weakness in polyester fibres.
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Operating income in FY19 fell 6.3 per cent to ¥56.2 billion (FY18: 60.0 billion). Profit attributable to owners of parents decreased 44 per cent to ¥25.3 billion (FY18: ¥45.1 billion).
Materials business field sales decreased 5.6 per cent to ¥633.8 billion (FY18: ¥671.6 billion). Sales volume declined for automotive applications such as friction materials and rubber reinforcements, due to the impact of a decrease in demand for automotive. Sales of fibre materials and apparel were sluggish due to weakness in market conditions, which mainly reflected unseasonable weather.
Healthcare business field sales dropped 2.3 per cent to ¥153.9 billion (FY18: ¥157.5 billion).
In its outlook for FY20, the group reported that its focus would be on expanding the automotive composites business. Also expansion of carbon fibre intermediate materials business for aircraft would be group’s priority.
Further, in stating the impacts of Covid-19 Teijin reported that factory operations in PRC (People's Republic of China) region are gradually recovering.
Fibre2Fashion News Desk (JL)
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