Revision of Forecast (4887L)

TIDMTKK

RNS Number : 4887L

Toray Industries Inc

01 August 2011

August 1, 2011

Toray Announces Revised Forecast of

Business Results for Fiscal 2011

Tokyo, August 1, 2011 - Toray Industries, Inc. today announced the revision to its forecast of business results for fiscal 2011 announced on May 10, 2011, taking into account recent business conditions.

Forecast of consolidated business results for the 1st half of fiscal 2011

(April 1, 2011 - September 30, 2011)

 
                                                                                    Net 
                                                                                   income 
                                                                                   basic 
                     Net sales       Operating       Ordinary       Net income      per 
                       (JPY         income (JPY     Income (JPY        (JPY        share 
                     million)        million)        million)        million)      (JPY) 
----------------  --------------  --------------  --------------  --------------  ------- 
 Previous 
  forecast (A)           780,000          47,000          46,000          29,000    17.80 
----------------  --------------  --------------  --------------  --------------  ------- 
 Revised 
  forecast (B)           800,000          60,000          62,000          39,000    23.94 
----------------  --------------  --------------  --------------  --------------  ------- 
 Change (B)-(A)           20,000          13,000          16,000          10,000     - 
----------------  --------------  --------------  --------------  --------------  ------- 
 Percentage of 
  change                    2.6%           27.7%           34.8%           34.5%     - 
----------------  --------------  --------------  --------------  --------------  ------- 
 (Reference) 
  FY2010 1H 
  Results (April 
  1, 2010 - 
  September 30, 
  2010)                  733,377          42,520          40,464          24,919    16.05 
----------------  --------------  --------------  --------------  --------------  -------

Forecast of consolidated business results for fiscal 2011

(April 1, 2011 - March 31, 2012)

 
                                                                                    Net 
                                                                                   income 
                                                                                   basic 
                     Net sales       Operating       Ordinary       Net income      per 
                       (JPY         income (JPY     Income (JPY        (JPY        share 
                     million)        million)        million)        million)      (JPY) 
----------------  --------------  --------------  --------------  --------------  ------- 
 Previous 
  forecast (A)         1,650,000         110,000         109,000          67,000    41.12 
----------------  --------------  --------------  --------------  --------------  ------- 
 Revised 
  forecast (B)         1,670,000         120,000         120,000          74,000    45.42 
----------------  --------------  --------------  --------------  --------------  ------- 
 Change (B)-(A)           20,000          10,000          11,000           7,000     - 
----------------  --------------  --------------  --------------  --------------  ------- 
 Percentage of 
  change                    1.2%            9.1%           10.1%           10.4%     - 
----------------  --------------  --------------  --------------  --------------  ------- 
 (Reference) 
  FY2010 Results 
  (April 1, 2010 
  - March 31, 
  2011)                1,539,693         100,087          98,888          57,925    36.41 
----------------  --------------  --------------  --------------  --------------  -------

Reason for revision

Under the medium-term management program "Project AP-G 2013" started in April this year, Toray Group has been pursuing business expansion in growth business fields and growth regions and making earnest efforts to further strengthen cost competitiveness. While the outlook remains clouded by uncertainties including financial instability in the U.S. and Europe as well as fluctuations of exchange rates and raw material prices, the Group has been expanding its earnings in the businesses such as Fibers and Textiles, Plastics and Chemicals, and Carbon Fiber Composite Materials. Taking these factors into account, the Company is revising its first-half and full-year consolidated forecasts for the fiscal year ending March 31, 2012.

Disclaimer

The above stated forecasts are formulated based on estimates of future economic environment as of the announcement date of this material and the actual results could differ from the forecasts due to various factors in the future. The material in this statement is not a guarantee of the Company's future business performance.

For further information, please contact:

 
 Mr. Kenjiro Kamiyama             Mr. Yoshiaki Nakayama 
  General Manager                  General Manager 
  Investor Relations Department    Corporate Communications Department 
  Tel: +81-3-3245-5113             Tel: +81-3-3245-5178 
  Fax: +81-3-3245-5459             Fax: +81-3-3245-5459 
 Toray Industries, Inc. 
  http://www.toray.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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