Toyobo, a Japan-based textile company, has reported 0.9 per cent sales growth to ¥339.6 billion (Japanese Yen) in fiscal 2020 ended on March 31, 2020 compared to sales of ¥336.6 billion in previous fiscal. Operating profit grew 4.9 per cent to ¥22.7 billion (FY19: ¥21.7 billion). Ordinary profit rose 1.4 per cent to ¥18.0 billion (FY19: ¥17.7 billion).
Toyobo, a Japan-based textile company, has reported 0.9 per cent sales growth to ¥339.6 billion (Japanese Yen) in fiscal 2020 ended on March 31, 2020 compared to sales of ¥336.6 billion in previous fiscal. Operating profit grew 4.9 per cent to ¥22.7 billion (FY19: ¥21.7 billion). Ordinary profit rose 1.4 per cent to ¥18.0 billion (FY19: ¥17.7 billion).#
The sales were reportedly affected by the fire accident and production curtailment of automobiles due to US-China trade friction. Moreover, sales were influenced by the Covid-19 in fourth quarter.
Toyobo, a Japan-based textile company, has reported 0.9 per cent sales growth to ¥339.6 billion (Japanese Yen) in fiscal 2020 ended on March 31, 2020 compared to sales of ¥336.6 billion in previous fiscal. Operating profit grew 4.9 per cent to ¥22.7 billion (FY19: ¥21.7 billion). Ordinary profit rose 1.4 per cent to ¥18.0 billion (FY19: ¥17.7 billion).#
Sales of Films & Functional polymers in FY20 were ¥158.8 billion (FY19: ¥156.2 billion). Industrial Materials sales were ¥65.4 billion (FY19: ¥66.5 billion). Healthcare sales were ¥39.4 billion (FY19: ¥34.7 billion). Textiles and Trading sales were ¥61.3 billion (FY19: ¥64.6 billion).
Toyobo, a Japan-based textile company, has reported 0.9 per cent sales growth to ¥339.6 billion (Japanese Yen) in fiscal 2020 ended on March 31, 2020 compared to sales of ¥336.6 billion in previous fiscal. Operating profit grew 4.9 per cent to ¥22.7 billion (FY19: ¥21.7 billion). Ordinary profit rose 1.4 per cent to ¥18.0 billion (FY19: ¥17.7 billion).#
In its outlook, Toyobo reported that the business environment for the FY21, it is expected that the global economy including Japan will significantly stagnate due to the spread of Covid-19, and it will take a considerable amount of time for economic activities to normalise.
Fibre2Fashion News Desk (JL)
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