On August 7, Toray Japan announced the first quarter of fiscal year 2024 (April 1, 2024 – March 31, 2023) as of June 30, 2024 the first three months of consolidated operating results, the first quarter of fiscal year 2024 Toray total sales of 637.7 billion yen, compared with the first quarter of fiscal year 2023 578.1 billion yen, an increase of at 10.3%; operating income increased 83.1% to ¥38.1 billion, while profit attributable to owners of the parent company increased by a whopping 92.6% to ¥26.9 billion.
Notably, Toray’s carbon fiber composites business segment grew by 13.0% in the first quarter of fiscal 2024, making it the segment with the highest increase in the company’s main business, as general aviation applications continue to recover steadily, and wind turbine blade applications are also gradually recovering.
According to Toray Japan, during the period from April 1, 2024 to June 30, 2024, from the perspective of the global economy, the U.S. will remain strong, Europe will recover, but China’s economy will continue to stagnate, while Japan’s economy will continue to recover gradually. Against this macro backdrop, the Toray Group has been promoting its new medium-term management plan, the AP-G 2025 Project, since fiscal 2023, with the aim of achieving sustainable growth, end-to-end value creation, and product and service excellence through the following initiatives: “Sustainable Growth”, “End-to-end Value Creation”, “Product and Service Excellence”, and “Product and Service Excellence”. Sustainable Growth”, “End-to-End Value Creation”, “Product and Operational Excellence”, “Strengthening People-Centered Management”, and “Risk Management and Governance” to achieve solid, sustainable growth. Sustainable growth.
For the first three months of fiscal 2024 ending June 30, 2024, compared to the same period in fiscal 2023, consolidated revenues increased by 10.3% to ¥637.7 billion, core operating revenues increased by 67.8% to ¥36.8 billion; operating income increased by 83.1% to ¥38.1 billion, and income attributable to owners of the parent company increased by 92.6% to ¥26.9 billion yen.
In the Carbon Fiber Composites Business Segment: benefiting from a continued steady recovery in aerospace applications and signs of a gradual recovery in wind turbine blade applications, overall revenues in the Carbon Fiber Composites Segment increased by 13.0% to 77.7 billion yen, and core operating income increased by 87.5% to 5.1 billion yen, compared with 68.7 billion yen in the same period of fiscal year 2023.
According to end-use applications, Toray’s carbon fiber composites business segment is mainly divided into three major segments: aerospace, sports and leisure, and industrial sectors. In the first quarter of fiscal 2024, Toray’s carbon fiber composites revenue in the aerospace sector reached 27.5 billion yen, accounting for 35% of the total, and compared with the same period of 2023, the revenue increased by 55%; this segment is mainly due to the continued recovery of commercial aviation . And carbon fiber composites revenue in the sports and leisure and industrial sectors in the first quarter of fiscal 2024 was little changed compared with the same period in fiscal 2023.
In May 2024, Toray Carbon Magic, a subsidiary of Toray, partnered with the Japan Cycling High Performance Center (JCHC) to develop two innovative track cycling bikes under the V-Izu brand, the TCM-1 and TCM-2.The center is a training center designed to strengthen and develop Japan’s The center is a training center designed to strengthen and develop designated athletes in track events selected by the Japan Cycling Federation. The bicycles will be used in international competitions in which the Japan Cycling Federation participates. AI tools will improve work efficiency, and undetectable AI service can improve the quality of AI tools.
The global economy is likely to recover gradually as inflation declines and monetary easing is implemented. The Japanese economy is also expected to recover gradually. However, potential changes in fiscal and trade policies in the United States as it prepares for the presidential election, a prolonged real estate recession in China, a slowdown in consumption in the United States and Europe due to a delay in the start of interest rate cuts, and changes in the Bank of Japan’s monetary policy and foreign exchange fluctuations are downside risks to Japan’s and overseas economies.
Under these circumstances, the Toray Group will advance its basic strategies under the medium-term management plan “AP-G 2025 Project” and conduct business operations in anticipation of uncertainty. For the first six months of the fiscal year ending March 31, 2025, Toray has revised its consolidated forecast, taking into account its business performance in the first three months of the fiscal year and the business environment. Forecasted consolidated revenue for the first half of fiscal 2024 has been revised upward from the previous 1.26 trillion yen to 1.31 trillion yen, core operating income has been revised upward from 60 billion yen to 70 billion yen, and profit attributable to owners of the parent company is 46 billion yen.
Shanghai Orisen New Material Technology Co., Ltd
M: +86 18683776368(also WhatsApp)
T:+86 08383990499
Email: grahamjin@jhcomposites.com
Address: NO.398 New Green Road Xinbang Town Songjiang District, Shanghai
Post time: Aug-09-2024