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Toray Swings to Profit

3:19 AM MDT | May 10, 2011 | Deepti Ramesh

Toray Industries reported a net profit of ¥57.9 billion ($718 million) for the fiscal year ended March 31, 2011, compared with a net loss of ¥14.1 billion in the previous fiscal year. Sales increased 13%, to ¥1.53 trillion. Toray’s plastics and chemicals business posted a 15% rise in sales, to ¥382.3 billion, compared with the previous fiscal year. And operating profits for the business more than doubled, to ¥27.1 billion. “In the plastics and chemicals segment, despite the impact of slow automobile sales in Japan reflecting the...

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