Teijin Limited, a Japanese manufacturer of carbon fibre and apparel products, has reported net sales of 1,032.8 billion yen (approximately $6.63 billion) in fiscal 2023 (FY23), marking a 1.4 per cent increase year-on-year (YoY). Operating income rose by 5.3 per cent to 13.5 billion yen.

Notably, ordinary income surged by 71 per cent to 15.6 billion yen, primarily due to an increase in equity in earnings of affiliates. The group's profit attributable to owners of the parent amounted to 10.6 billion yen, the company said in a press release.

In the materials business field, Teijin achieved net sales of 439.7 billion yen, a slight increase of 0.2 per cent YoY. The operating loss in this segment was reduced to 6.2 billion yen, an improvement of 15.1 billion yen from the previous year. EBITDA for the materials business field was 32.1 billion yen, reflecting a significant increase of 17.4 billion yen YoY. However, the return on invested capital (ROIC) based on operating income remained at minus 2 per cent.

The fibres and products converting business reported net sales of 321.5 billion yen, a slight decrease of 0.2 per cent YoY. Despite the marginal decline in sales, the operating income for this segment increased by 25.4 per cent to 12.1 billion yen. EBITDA also saw a notable rise, reaching 19.7 billion yen, up by 3.1 billion yen YoY. The ROIC based on operating income for this segment was 8 per cent.