Toyobo Co. Ltd. (81-6-6348-3111) | Japan Business Database 📚

Toyobo Co. Ltd. is a Japan company, located in Osaka City Osaka. more detail is as below.

Company Information

Company Name: Toyobo Co. Ltd.
Country: Japan
Address: Osaka City Osaka
International Area Code: 81
Phone: 81-6-6348-3111
Fax: 81-6-6348-3206
Contact: Ryuzo Sakamoto
Website: www.toyobo.co.jp
Product List: Films & Functional Polymers, Life Science, Industrial Materials, Textiles
Category Activities: Films & Functional Polymers, Life Science, Industrial Materials, Textiles
Type: Manufacturers
Profile: The Business Environment For The Toyobo Group During The First Half Of Fiscal 2009 (the Six-month Period From April 1 To September 30, 2008) Was Marked By Increasingly Apparent Setbacks For The Economy. Overseas The Sense Of Slowdown In The U.s. Economy Grew Stronger With Rising Oil Prices And The Turmoil In The Financial Markets Precipitated By The Subprime Loan Crisis, While The Japanese Economy Saw Sluggish Growth In The Exports That Had Been The Driving Force For The Economy, Along With A Retreat Of Capital Investment Following Deterioration In Corporate Earnings, And Stagnant Consumer Spending. Under Such Circumstances, The Toyobo Group Took Steps To Strengthen And Expand Its Specialty Business Segments—films And Functional Polymers, Industrial Materials, And Life Science—while In The Textiles Segment Further Narrowed The Focus Of Business Fields In Accordance With Its Policy Of Emphasizing Asset Efficiency. However, Increased Costs Stemming From Rising Prices For Raw Material And Fuel, More Intense Competition Both In Japan And Abroad, The Implementation Of Business Restructuring And The Strict Application Of Accounting Standard For Measurement Of Inventories, Led To Harsh Consequences In Terms Of Earnings. As A Result, Net Sales For The Subject First Half Decreased ¥11.0 Billion (5.1%) From The Same Period Of The Previous Fiscal Year To ¥202.5 Billion. Earnings Also Declined, With Operating Income Down ¥4.2 Billion (30.5%) To ¥9.7 Billion, And Ordinary Income Down ¥4.7 Billion (41.1%) To ¥6.8 Billion, With Toyobo Posting A Net Loss For The First Half Of ¥5.6 Billion. Toyobo Anticipates That The Future Business Environment Will Become Increasingly Difficult To Forecast And Remain Tight, Due To The Slowdown In Demand Stemming From The Global Financial Crisis And Economic Outlook. The Toyobo Group Expects Demand To Remain Firm In Such Areas As Packaging Films, The High-performance Fiber "dyneema," Airbag Fabrics, Medical And Environmental Fields. Through Such Measures As Raising Prices And Cutting Expenses We Expect To Be Able To Achieve Operating Income And Ordinary Income During The Second Half On Par With That Of The First. However, We Revised Downward Our Forecast Of Net Income Due To Additional Restructuring For The Acrylic Fiber And Other Businesses, Responding To The Rapid Deterioration In The Business Environment. We Expect For The Full Term Of The Fiscal Year To March 31, 2009, Forecast Net Sales Of ¥410 Billion. In Terms Of Earnings, Operating Income Is Forecast To Be ¥20 Billion, And The Net Loss ¥5 Billion. The Decline In Net Income Is Due To Temporary Factors, Such As Losses Incurred For Business Restructuring, For Which The Subject Fiscal Year Is The Final Phase. Consequently, Toyobo Plans To Pay Dividends For The Year Ending March 31, 2009 Of ¥5 Per Share, As Was Previously Announced.
Area: Osaka

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