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Toray Upgrades Full-Year Forecast

12:12 AM MDT | August 2, 2011 | Deepti Ramesh

Toray Industries has upgraded its sales and earnings projections for the fiscal year ending March 31, 2012. Toray expects to record net profits of ¥74 billion ($955 million), having previously forecast net profits of ¥67 billion, and forecasts full-year sales of ¥1.67 trillion, having previously predicted sales of ¥1.65 trillion. The earlier forecasts were announced in May 2011. “While the outlook remains clouded by uncertainties including financial instability in the U.S. and Europe, as well as fluctuations in exchange rates and raw...

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