Home / Knowledge / News / Company / Fibers and Textiles segment sales drop at Toray

Fibers and Textiles segment sales drop at Toray

16
Aug '12
Toray Industries Inc announced its consolidated business results for the  three months ended June 30, 2012, the first quarter of the year ending March 31, 2013. The following summary of the business results that the Company submitted to the Tokyo Stock Exchange is unaudited and for reference only. 
 
In the period under review, while the U.S. economy continued to recover, albeit at a slow pace, the European sovereign debt problems affected the region’s real economy. At the same time, growth in exports and investment slowed in emerging countries. On the other hand, the Japanese economy continued to recover at a gradual pace on the back of demand related to reconstruction from the Great East Japan Earthquake and the effect of stimulus measures for automobile consumption. Demand for apparels, flat-screen TV sets and IT-related products, which was relatively strong both in Japan and overseas in the first half of 2011, has been affected by the worldwide economic slowdown since last fall. While currently in a recovery phase, the demand has not recovered to the level of the same period a year earlier. 
 
Under such circumstances, Toray Group has been implementing the growth strategy with focus on pursuing business expansion in growth business fields and growth regions and further bolstering its total cost competitiveness in accordance with the medium-term management program “Project AP-G 2013” launched in April 2011. 
 
As a result, consolidated net sales for the three months ended June 30, 2012 declined 2.9% compared with the same period of the previous fiscal year to ¥364.1 billion (US$4,591 million). Operating income fell 36.7%  to ¥17.3 billion (US$218 million) and ordinary income decreased 34.3% to ¥19.1 billion (US$241 million). Net income declined 43.3% to ¥10.1 billion (US$127 million). 
 
In Japan, sales of industrial-use materials in general grew strongly fueled by factors including rising sales for automotive applications reflecting production expansion by automobile manufacturers. Demand for apparel applications, however, remained weak due to the unseasonal weather in  early spring as well as other factors. 
 
Overseas, in addition to sluggish demand in Asia given the impact of the economic slowdown in the U.S. and Europe, both production and sales continued to be affected by the floods in Thailand following the fourth quarter of the previous fiscal year. As a result, overall sales of Fibers and Textiles fell 4.6% to ¥135.8 billion (US$1,712 million) from the previous  year and operating income declined 13.9% to ¥8.7 billion (US$110 million). 


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Oct 2020

Scottish businesses to gain from UK-Japan trade agreement

Scottish businesses, including textile firms, are set to benefit from ...

Pic: SA Company

Apparel/Garments | On 27th Oct 2020

TZP Group makes strategic investment in SA Company

TZP Group, through TZP Capital Partners III, a private equity firm...

Pic: Shutterstock

E-commerce | On 27th Oct 2020

Online shopping scams rise 37% during 2020 1st half in UK

Incidences of online shopping and auction fraud in the UK rose by 37...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Textile Industry, Head honchos

Textile Industry
Head honchos

One thing is certain, online sales will go up

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Fiorella Cattelan,

Fiorella Cattelan

With flexibility and versatility, Dettin strives to meet the specific...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search