Toray posts 1.2% fall in 9-month operating income

08 February 2008 07:55  [Source: ICIS news]

TOKYO (ICIS news)--Japan’s Toray Industries posted a 1.2% year-on-year fall in its nine-month operating income to yen (Y) 63.3bn ($589m) on Friday due to high feedstock costs and intensified competition in the information technology-related products business, it said.

The chemical producer’s net sales for the period ended 31 December 2007 rose 6.9% to Y1,207.5bn, while its net income declined 21.2% to Y32bn.

Toray's fibres and textiles segment's nine-month operating income rose 2.1% to Y14.7bn, while its net sales increased 6% to Y485.1bn, it said.

The company's plastics and chemicals division posted a 7.1% higher nine-month operating income at Y13.5bn, while its net sales rose 8% to around Y302bn, Toray said without disclosing further details on each segment’s performance.

($1 = Y107.40)

By: Tomomi Yokomura
+65 6780 4359

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