The business environment for the Toyobo Group during fiscal 2012, ended
March 31, 2012 (April 1, 2011, through March 31, 2012), in the domestic
economy was characterized by a sharp decline in industrial activities
at the beginning of the fiscal year as a result of the Great East Japan
Earthquake. Nevertheless, signs of recovery were seen in the second
quarter of the fiscal year as progress was made toward the early
restoration of supply chains. However, in the second half of the fiscal
year, floods in Thailand, the appreciation of the yen, the increase in
crude oil prices, and other factors combined to create a challenging
business environment. In overseas economies also, the overall outlook
continued to be uncertain because of slower economic growth in China
and other countries in Asia, the debt crises in Europe, and other
factors.
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.” In the environment field,
the Company worked to expand sales of high-melting point polyamide made
from biomass and the volatile organic compounds (VOC) emission
treatment equipment in overseas, while in the life science field,
Toyobo endeavored to increase sales of enzymes for blood glucose
sensors and new types of medical membranes. In the field of
high-function products, the Company worked to expand sales of films for
the manufacturing process of ceramic capacitors and expanded its
coating facilities for these films as well as the production capacity
for a chlorinated polypropylene paint used as an undercoating for
automobile bumpers. In addition, the Company worked to expand specialty
business activities globally, including making the decision to
establish a manufacturing and sales company for co-polymer polyester in
Thailand and a sales company for airbag fabrics in North America.
As a result, consolidated net sales for the subject fiscal year
increased ¥8.9 billion (2.6%) from the previous fiscal year to ¥349.5
billion, with operating income down ¥2.6 billion (12.4%) to ¥18.3
billion, and net income of ¥4.6 billion.
