TOKYO -- Toray Industries is expected to report roughly 110 billion yen ($936 million) in group operating profit for the April-December period, down 7% on the year, as its carbon fiber and textile businesses faced weak demand and a strong yen ate into profit margins.
The Tokyo-based industrial product maker probably will report sales down 5% to 1.5 trillion yen. The yen traded around 107 to the dollar on average for the nine-month period -- about 15 yen stronger than the year before -- and held strong against the Chinese yuan and developing countries' currencies, shrinking overseas earnings.
