Japan’s Toray Industries, a leading company in advanced materials, has reported an increase in consolidated revenue by 10.3 per cent year-on-year (YoY) to ¥637.7 billion (approximately $4.4 billion) for the first quarter of fiscal 2025 (Q1 FY25).

Core operating income saw a significant rise of 67.8 per cent, reaching ¥36.8 billion, while operating income increased by 83.1 per cent to ¥38.1 billion. Profit attributable to owners of the parent surged by 92.6 per cent, totalling ¥26.9 billion, the company said in a press release.

In the fibres and textiles segment, Toray reported a 9.4 per cent YoY increase in revenue, which reached ¥244.8 billion. The segment's core operating income grew by 35.7 per cent to ¥14.8 billion, driven by strong demand across various markets.

The performance chemicals segment experienced a robust 12.5 per cent YoY increase in revenue, amounting to ¥241.7 billion. Core operating income in this segment rose sharply by 147.5 per cent to ¥18.3 billion, reflecting the segment's strong performance and growing market demand for chemical products.

The carbon fibre composite materials segment also delivered strong results, with revenue increasing by 13.0 per cent YoY to ¥77.7 billion. Core operating income in this segment saw an 87.5 per cent rise, reaching ¥5.1 billion, as the demand for carbon fibre materials continued to grow across various industries.