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Toray Reports Huge Rise in Profits

12:01 AM MDT | August 4, 2011 | Deepti Ramesh

Toray Industries reported a more than doubling in net profits for its fiscal first quarter ended June 30, compared with the year-ago period, to ¥17.7 billion ($224 million). Sales increased 7%, to ¥375 billion. Toray says that “despite the difficult start to the quarter, with production and other sectors being affected by the earthquake that hit Japan on March 11, the Japanese economy started recovering, as the restoration of the disrupted supply chain led to a recovery in production activity, which in turn boosted corporate and household...

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