Toray Second-Quarter Profit Climbs 62% on Carbon Fiber Demand

Toray Industries Inc. (3402), the maker of carbon fiber used in Boeing Co.’s 787 Dreamliner, said second-quarter profit rose 62 percent as demand for the material grew.

Net income rose to 16.1 billion yen ($163 million) in the three months ended Sept. 30 from 9.9 billion yen a year ago, the company said in a statement today. Sales rose 16 percent to 451 billion yen.

Operating profit at Toray’s carbon fiber business more than doubled to 4.5 billion yen from 2 billion yen a year ago, while sales rose 52 percent to 27.7 billion yen.

The environment and engineering business, which makes water-treatment membranes, posted a fourfold gain in operating income to 400 million yen during the period. Its sales rose 12 percent to 44.3 billion yen.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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