Toyota Industries Posts 16.5% Increase in Fiscal Textile Machinery Sales

In the fiscal year ending in March 2019, Toyota Industries Corporation increased its sales of textile machinery by 16.5% over the previous fiscal year to 76,333 million yen.

Segment profits rose by 18.4% to 7,319 million yen.

According to the company, the textile machinery market in China was strong, while it stagnated in certain countries in Asia. The sharp increase in its textile machinery sales is mainly due to an increase in sales of weaving machinery in China.

Sales of air-jet looms amounted to 9,000, as compared with 6,300 in the previous fiscal year.

The company forecasts sales of textile machinery in the current fiscal year at 62 billion yen. Sales of air-jet looms are expected at 5,700.