Global chemical company Toray has reported net sales of 2,104,430 million yen in 2016, compared to 2,010,734 yen in 2015. Operating income was 154,480 million yen, compared to 123,481 million yen, a rise of 25.1%.

‘During fiscal 2015, the economy in China gradually slowed and economic conditions in many other emerging countries appeared to be weak,’ said president Akihiro Nikkaku. ‘On the other hand, economic conditions in the US continued to pick up and the European economy also remained on a recovery track. In Japan, although production and exports looked sluggish, the economy saw a gradual underlying recovery amid improving corporate earnings, employment, and wages. Under these operating conditions, Toray Group is steadily implementing growth strategies and further enhancing its total cost competitiveness.’

Consolidated net sales increased by 4.7% year on year to ¥2,104.4 billion and net income attributable to owners of parent climbed by 26.9% to ¥90.1 billion. According to the company, all segments except for Life Science saw year-on-year sales and profit gains. Carbon Fiber Composite Materials achieved earnings growth by meeting strong demand and expanding applications, while Fibers & Textiles promoted business integrating fibers, textiles, to final products while enjoying steady sales for automotive applications and hygiene products. In addition, Plastics & Chemicals saw increases in shipments of products for automotive and packaging applications.

The complete Annual Report can be found here (pdf).

This story is reprinted from material from Toraywith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.