Toyobo’s Q3 FY21 sales fall to ¥244 bn

Toyobo, a Japanese textile and fibre manufacturer, has posted 1.7 per cent sales decline to ¥243.8 billion (Japanese yen) in Q3 FY21, that ended on December 31, 2020, compared to sales of ¥248.0 billion in the same period previous fiscal. Company’s operating profit for the nine-month period grew 14.6 per cent to ¥18.3 billion (Q3 FY20: ¥15.9 billion). Gross profit increased to ¥65.0 billion (¥61.3 billion). Selling, general and administrative expenses was ¥46.7 billion (¥45.4 billion). Ordinary profit for Q3 FY21 slipped 7.3 per cent to ¥12.5 billion (¥13.4 billion). Profit attributable to owners of parent was ¥25 million (¥5.8 billion). Sales of films and functional materials rose to ¥113.0 billion (¥90.4 billion), while mobility segment sales dipped to ¥25.5 billion (¥33.0 billion).  Lifestyle and environmental segment sales for Q3 dropped to ¥77.3 billion (¥95.6 billion). Orders of textiles drastically decreased due to sluggish store sales, as company reported in its release. The acrylic fibre business struggled as the deterioration of the market environment continued in China and Europe. However, polyester staple fibres for use in hygiene products and “Breathair” for bedding applications were strong.

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