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Toray Swings to Profit; Announces Business Plan

3:57 AM MST | February 3, 2011 | Deepti Ramesh

Toray Industries reported a net profit of ¥43.8 billion ($537 million) for the nine months ended December 31, 2010, compared with a net loss of ¥19.4 billion in the year-ago period. Sales increased 15%, to ¥1.12 trillion. Toray’s plastics and chemicals business recorded a 15.5% rise nine-month sales, to ¥280.5 billion compared with the year-ago period, and operating profits for the segment more than doubled, to ¥19.8 billion. “In the plastics and chemicals segment, despite the impact of slow automobile sales in Japan reflecting the...

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