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Toray reports fall in profits, sales

7:09 AM MST | February 7, 2013 | Deepti Ramesh

Toray Industries reported a 30.9% fall in net profits for its fiscal first 9 months, ended 31 December 2012, compared with the year-ago period, to ¥37.3 billion ($399 million). Nine-month sales decreased 2.1%, to ¥1.17 trillion. During the nine-month period, the global economy remained under harsh conditions, as Europe continued to struggle with the region’s sovereign debt problems while the Chinese economy slowed down and the US economic recovery slowed, Toray says. The Japanese economy recovered at a gradual pace on the back of reconstruction...

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