Japan's Toray Industries posts 47% increase in H1 net profit

07 November 2013 11:04  [Source: ICIS news]

TOKYO (ICIS)-- Japanese chemical producer Toray Industries on Thursday posted a 47% year-on-year increase in its first-half net profit to yen (Y) 29.4bn partly on improved performance in the fibres and textiles segment.

Operating profit in the six months to 30 September 2013 increased by 21% to Y44.3bn ($443m) from the same time a year earlier, while net sales rose by 13% to Y853.8bn, Toray said in a statement.

In the plastics and chemicals segment, first-half operating profit, however, fell by 14% to Y9.0bn, with net sales up 17% to Y228bn, according to Toray.

This was because the resin business was affected by the increased feedstock costs, while demand for automotive applications increased in Japan, Toray said.

Operating profit in the fibres and textiles segment rose by 30% year on year to Y24.2bn, with net sales up 16% to Y335.1bn, according to Toray.

($1 = Y98.71)

By: Tomomi Yokomura
+65 6780 4359

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