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Teijin reports net sales down 1.9% in Q3 FY19

Feb '20
Pic: Shutterstock
Pic: Shutterstock
Teijin, a Japanese chemical, pharmaceutical and information technology company, posted 1.9 per cent reduction in net sales at ¥647.5 billion (Japanese Yen) in third quarter (Q3) FY19 compared to same period prior year. Operating income for the nine months period that ended on December 31, 2019, increased 0.2 per cent to ¥48.2 billion.
Group's result mainly reflected a firm performance by aramid fibres in the material business group, the healthcare business in Japan and IT, despite sluggish market conditions for polycarbonate resins and a decline in sales of a mainstay pharmaceutical owing to impact from generic products in Europe and US. 
Ordinary income decreased 7.5 per cent to ¥47.4 billion, partly due to a decline in non-operating income reflecting the impact of foreign exchange movements. Profit attributable to owners of parent decreased 26 per cent to ¥30.2 billion, reportedly due to recording one-time expenses associated with the transfer of subsidiaries in films under extraordinary loss.
Materials business field, sales in Q3 FY19 were ¥481.5 billion decreased 3.4 per cent, and operating income was ¥17.2 billion, mostly unchanged from the previous year.
In the healthcare business field, sales were ¥119.2 billion decreased 0.7 per cent in Q3 FY19, and operating income was ¥29.1 billion decreased 6.9 per cent.
In others, sales were ¥46.7 billion increased 14.3 per cent in Q3 FY19 and operating income increased 45.4 per cent to ¥5.6 billion.
Group has made no changes to the consolidated full-term operating results forecasts for FY19. However, group has revised its breakdowns by segment. The group forecasts net sales reduced by 3.2 per cent to ¥860 billion for complete FY19.

Fibre2Fashion News Desk (JL)

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