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Toray Industries posts net loss of $97.4m for half year

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Toray Industries says net sales for the six months ended September 30, 2009 fell 22.8% to US$6.8 billion ($9.5 billion) from US$8.8 billion from the same period a year ago. The manufacturer of plastic fibres, fabric and chemicals also incurred a net income loss of US$69.8 million.

In Japan, Toray Industries says shipment of clothing materials continued to be sluggish, except for some sewn products, against the backdrop of weak demand for apparels. While demand for industrial-use materials in general also remained weak, shipment began to recover from the first quarter to the second quarter led by automotive applications.

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