The business environment for the Toyobo Group during the first half of
fiscal 2012, ending March 31, 2012 (April 1, 2011, through September
30, 2011), in the domestic economy was characterized by signs of
recovery, as a result of faster progress toward reconstruction and
restoration following the Great East Japan Earthquake, which did major
damage to supply chains. However, economic conditions remained
challenging because of the decline in competitiveness due to the
historically high value of the yen, weakness in consumer spending, and
other factors. In overseas economies, growth overall was moderate, led
by China and other Asian countries, but, as a result of the
prolongation of the financial and monetary problems in EU, the feeling
of deceleration in the U.S. economy, and other factors, uncertainty
regarding economic trends increased substantially.
Amid this operating environment, the Toyobo Group aimed to become “The
category leader for providing new value in the environment, life
science, and high-function products fields.” Toyobo worked to expand
sales of new products, including high-melting point polyamide resin
made from biomass in the environment field and enzymes for the
self-monitoring of blood glucose in the life sciences field. In the
field of high-function products, Toyobo also focused on increasing
sales of new products, including heat-shrink film for use in packaging
PET bottles, films for touch panels, and films for the manufacturing
process of ceramic capacitors.
As a result, consolidated net sales during the first half of the fiscal
year increased ¥8.4 billion (4.9%), from the same period of the
previous fiscal year, to ¥178.1 billion, with operating income up ¥0.1
billion (0.9%), to ¥11.0 billion; and net income increasing ¥7.1
billion, to ¥5.2 billion.
For fiscal 2012, we expect that demands of the environment-related
industries will continue to be firm, and shipments which were confined
by the effects of the earthquake will recover. However, there are still
uncertainties regarding economic trends in developed countries.
In view of these and other considerations, for its full-year results
forecast, Toyobo is making no changes to the forecast announced on
August 5, 2011.
As a result, we forecast net sales for the subject fiscal year increase
¥14.4 billion from the previous fiscal year to ¥355.0 billion.
Operating income increases ¥1.1 billion from the previous fiscal year
to ¥22.0 billion, and net income for the period of ¥9.0 billion.
I would like to offer my most sincere appreciation to our shareholders
and investors, and ask for your continued support.
