Toyota Industries’ Textile Machinery Sales Remain Firm

Toyota Industries Corporation reported consolidated sales of 2,250,466 million yen for the fiscal year ending at the end of March 2017, up 0.3% compared to the previous fiscal year.

Operating profits decreased by 8.7% to 122,969 million yen, and net profits declined by 31.4% to 125,534 million yen.

Textile machinery sales rose by 0.9% to 66,265 million yen with segment profits increasing by 23.0% to 5,062 million yen.

According to the company, the textile machinery market was on a recovery path mainly in the primary market of China and other emerging countries in Asia. Sales of air-jet looms increased, while those of spinning machinery decreased. Sales of air-jet looms increased to 6,900 looms from 6,200 in the previous fiscal year.

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