Toray Industries reported a significant drop in core operating income, which fell by 10.6 per cent to ¥48.7 billion. Operating income also saw a steep decline of 39.8 per cent, amounting to ¥44.4 billion. Furthermore, profit attributable to owners of the parent company plummeted by 51.2 per cent to ¥28.9 billion, the company said in a media release.
Japanese firm Toray Industries reported a 4.9 per cent decline in H1 FY24 revenue to ¥1,199.4 billion, with significant drops in core operating income and profit.
The company’s fibres and textiles segment saw revenue decline but increased operating income, while the carbon fibre segment achieved revenue growth and higher operating income.
The overall revenue for the fibres and textiles segment fell by 5.5 per cent to ¥481.2 billion, though core operating income in this segment actually increased by 13.9 per cent to ¥27.2 billion.
In contrast, the carbon fibre composite materials segment showed more positive results. The segment’s revenue rose by 0.8 per cent to ¥141.1 billion compared to the same period last year, and its core operating income increased significantly by 35.9 per cent to ¥7.6 billion.
Fibre2Fashion News Desk (DP)