Japanese chemical group Toray continues growth momentum in Q2

15 Nov '21

2 min read

Pic: Toray

Toray Group, a Japanese integrated chemical industry group, has posted revenue of ¥1,062.9 billion, up by 24.2 per cent, in the second quarter (Q2) of FY21 ended on September 30, 2021, against the sales of ¥856.0 billion in the corresponding period of prior fiscal. The group's profit for the six-month period shot up to ¥66.4 billion (Q2 FY20: ¥3.8 billion).

Revenue from fibres and textiles segment during Q2 FY21 grew 21.6 per cent to ¥401.5 billion due to increase in demand from both Japan and abroad, while performance chemicals went up 35.8 per cent to ¥444.5 billion. Furthermore, carbon fibre composites materials sales increased by 10.8 per cent to ¥98.9 billion.

“The global economy, including Japan, is likely to continue its recovery with the rollout of coronavirus vaccines and progress in economic measures. However, the outlook is increasingly unclear given concerns regarding a risk of resurgence in infections from variants, soaring raw material and fuel prices, and production reduction of automobiles due to semiconductor shortage and supply chain constraints,” the company said in its outlook.

Furthermore, the fibre manufacturer mentioned that it has revised its outlook, and now expects revenue to reach ¥2,220.0 billion, while profit attributable to owners of parent of ¥93.0 billion during FY21.

Fibre2Fashion News Desk (JL)

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