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    3402   JP3621000003

TORAY INDUSTRIES, INC.

(3402)
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Toray Industries : New Malaysian plant of Japan's Toray begins full ABS resin output

08/18/2021 | 01:38am EDT

Tokyo-based chemical giant Toray Industries Inc. has boosted its group's manufacturing capacity for a material known as ABS resin as a new plant of its Malaysian unit begins full production.

The new factory has boosted Toray Plastics (Malaysia) Sdn. Bhd.'s output capacity for the group's "Toyolac" acrylonitrile butadiene styrene resin by about 20 percent to 425,000 tons annually, the Japanese company said in a news release Tuesday.

Combined with output at a plant in Chiba Prefecture, east of Tokyo, the Toray Group is now capable of making some 497,000 tons of ABS resin annually, it said.

The new plant has been built on land acquired next to the existing production facilities of the Malaysian subsidiary in the state of Penang.

ABS resin, a type of processable and thermoplastic polymer, is used for a wide range of industrial and household products, according to the company.

The new plant will chiefly produce "transparent grade" ABS resin used for products including home electric appliances, office automation equipment and miscellaneous goods, a Toray Industries spokesman told NNA.

Toray Industries is considering raising ABS resin production capacity further as it plans to expand sales in such areas as Europe and India, in addition to its key markets in China and Southeast Asian countries.

In 2018, Toray Industries announced a plan to reinforce the production capability of the Malaysian subsidiary. The operation of the new plant was originally scheduled to start in November 2020 but was delayed due to the COVID-19 pandemic. (NNA/Kyodo)

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials
Sales 2022 2 189 B 19 187 M 19 187 M
Net income 2022 92 431 M 810 M 810 M
Net Debt 2022 722 B 6 331 M 6 331 M
P/E ratio 2022 12,3x
Yield 2022 2,27%
Capitalization 1 126 B 9 862 M 9 873 M
EV / Sales 2022 0,84x
EV / Sales 2023 0,80x
Nbr of Employees 46 267
Free-Float 92,4%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 703,50 JPY
Average target price 843,85 JPY
Spread / Average Target 19,9%
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Managers and Directors
Akihiro Nikkaku President, CEO, COO & Representative Director
Koichi Abe Representative Director, EVP & Technology Manager
Kunio Ito Independent Outside Non-Executive Director
Ryoji Noyori Independent Outside Non-Executive Director
Susumu Kaminaga Independent Non-Executive Outside Director
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