Toray Raises First-Half Net Income Forecast by 13%

Toray raised its first-half net income forecast from the previous estimate of ¥40.0 billion to ¥45.0 billion. Net income for April-June increased substantially year on year.

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The story

Toray announced its IFRS-based results in afternoon trading on 6 August, reporting net income of ¥31.2 billion for April-June, up 82.3% year on year. In response, it raised its first-half net income forecast by 12.5%, from the previous forecast of ¥40.0 billion to ¥45.0 billion.

The expected progress rate against the new first-half forecast is set to increase to approximately 21.8%, while the full-year net income forecast remains unchanged at ¥90.0 billion.

In results for the latest 3 months, the operating margin for April-June improved to 7.0% from 4.6% in the same period last year.

At a glance

First-half revisionNew first-half net income of ¥45.0 billion, up 12.5% from the previous forecast of ¥40.0 billion

Current-period comparisonApril-June net income of ¥31.2 billion, up 82.3% year on year

Full yearFull-year net income forecast of ¥90.0 billion unchanged

Performance MetricsApril-June operating margin of 7.0%, improved from 4.6% in the same period last year

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