Toray's full-year profit fell 13.5 per cent from a year earlier
Toray, Japan, announced the 2022 fiscal year, with gross revenue of 2.4843 billion yen ($17.879 billion), up 11.70% from 2.228.5bn yen in fiscal year of 2021. The net profit was 728.23 billion yen (about $523 million), down 13.5percent from a year earlier.The overall profit margin of the company has declined because of tensions between Russia and Ukraine, the new world's impact, and the global economic slowdown that has led to a serious rise in material costs. But it is worth noting that the carbon fiber composite material business revenue in the reporting period was rmb281.7bn ($20.23 billion), up 30.9%year-on-year.
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