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Toyobo's ordinary profit increases 6.1% in Q3 FY20

11
Feb '20
Pic: Toyobo
Pic: Toyobo
Toyobo, a textile company, has posted 0.8 per cent decrease in net sales to ¥248 billion (Japanese Yen) in Q3 FY20, that ended on December 31, 2019. Operating profit in Q3 increased 4.1 per cent to ¥16 billion compared to same period last year. Ordinary profit increased 6.1 per cent to ¥13.4 billion. Profit attributable to owners of parent was ¥5.9 billion.
 
Group reported that during the nine months in Q3 a sense of uncertainty has intensified and the economy slowed due to the trade friction between the United States and China, the situation in the Middle East, and the issue of the United Kingdom's exit from the EU. Group also said that in Japan, the economy was at a continuous standstill mainly due to the impact of stagnant exports with the global economic slowdown and consumption tax hike.
 
Sales in textiles and trading decreased 2.2 per cent to ¥45.3 billion compared with same period last year. Operating loss of ¥0.1 billion was reported in textiles and trading segment. Sales volume of materials for traditional Arabic menswear increased as market conditions recovered, and sales of materials for uniforms grew steadily in those used for business uniforms. On the other hand, sales of acrylic fibre remained sluggish due to the impact of raw material prices though it is being shifted to industrial material applications.
 
Sales in films and functional polymers decreased 3.5 per cent to ¥114.3 billion and operating profit increased 18.1 per cent to ¥12 billion. In this segment the packaging film business achieved growth in sales of the environmentally conscious products as a result of rising eco-consciousness of the world.
 
Sales in industrial materials decreased 0.2 per cent to ¥49.7 billion, and operating profit decreased 70.1 per cent to ¥0.8 billion. The airbag fabrics business faced challenges due to the fire accident and global production curtailment in the automotive industry. In the high-performance fibres business, sales of Izanas grew primarily for use in ropes, and sales of Zylon expanded for use in bicycle tires and other use.
 
Sales in healthcare increased 17.7 per cent to ¥28.6 billion compared with same period last year. Operating profit increased 29.8 per cent to ¥4 billion.
 
Sales in real estate decreased 8.7 per cent to ¥10.1 billion compared with same period last year. Operating profit increased 2.9 per cent to ¥1.7 billion.

Fibre2Fashion News Desk (JL)


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