Net revenues at Japanese company Teijin increased 1.4% in FY23.

Teijin Limited, a Japanese producer of clothing and carbon fiber goods, announced net sales for fiscal 2023 (FY23) of 1,032.8 billion yen, or roughly $6.63 billion, an increase of 1.4% YoY. Operating income increased to 13.5 billion yen, or 5.3%.

Remarkably, ordinary income increased by 71% to 15.6 billion yen, mostly as a result of a rise in affiliate earnings equity. The corporation released a press statement stating that the group’s profit attributable to the parent company’s owners was 10.6 billion yen.

Teijin recorded net sales in the materials business sector of 439.7 billion yen, a minor YoY rise of 0.2%. This segment’s operational deficit decreased to 6.2 billion yen, a 15.1 billion yen improvement over the prior year. The materials business field’s EBITDA was 32.1 billion yen, a notable YoY rise of 17.4 billion yen. Nonetheless, the operational income-based return on invested capital (ROIC) stayed negative by 2%.

The company that converts fibers and goods reported net revenues of 321.5 billion yen, a 0.2% YoY decline. The operating income for this segment climbed by 25.4% to 12.1 billion yen, despite the slight drop in sales.

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