Toray

Basic Information

Stock Code
3402
Industry
Textile Products
Category Detail
Spinning & Textiles
Prefecture
Tokyo
Establishment Year
January 1926
Listing Year
May 1949
Official Website
https://www.toray.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Toyobo, Unitika, Fujibo Holdings, Omi Kenshi, Teijin, Asahi Kasei, Kitanihon Spinning, Fujix, Mitsubishi Chemical Group

Overview

Toray is a comprehensive chemical manufacturer founded in 1926, a world-leading innovator in technology spanning fiber materials such as carbon fiber to pharmaceuticals and electronic materials.

Current Situation

Toray achieved consolidated sales of approximately 2.4893 trillion yen, operating profit of about 109 billion yen, and net profit of about 72.8 billion yen in the fiscal year ended March 2023. Centered on its world-class carbon fiber business, it diversifies into chemical fibers, plastics, pharmaceutical-related products, and information and communication materials. It expands its operations globally, not only in Japan, with particularly strong competitiveness in high-performance materials for the aircraft and automotive industries. Through aggressive R&D investment, it continues to create innovative products. It also focuses on sustainability, promoting environmental burden reduction and social contribution activities. Looking ahead to 2025 and beyond, it aims to expand the market for advanced materials, develop next-generation technologies, and strengthen global collaboration. In recent years, growth in medical, electronics, and energy sectors has been remarkable, establishing a well-balanced business foundation.

Trivia

Interesting Facts

  • Top company in global carbon fiber market share
  • Developed Japan's first machine-washable kimono fiber in 1964
  • Major supplier of composite materials for Boeing 787
  • Developed and sells the famous household water purifier 'Torvino'
  • Owns the volleyball team Toray Arrows
  • Known as a core company of the Mitsui Group
  • Formed swimsuit campaign girl culture in the 1960s
  • First Japanese company to receive UN Humanitarian Award
  • Actively involved in the highly professional system
  • Promotes environmental purification with proprietary hollow fiber membrane technology
  • Pioneer in introducing nylon manufacturing technology in the 1950s
  • Renowned for high-quality supply of pharmaceutical raw materials
  • One of the few major companies with head office functions in both Tokyo and Osaka
  • Quality data falsification issue uncovered at Toray subsidiary
  • Has experience receiving administrative guidance on carbon fiber exports

Hidden Connections

  • Founded with investment from Mitsui & Co., positioned as a core Mitsui Group company.
  • Deeply involved in global aviation supply chain through composite materials supply for Boeing 787.
  • Has historical exchanges with U.S. chemical industry through introduction of DuPont's nylon manufacturing technology.
  • Hollow fiber membrane water purification technology uses the same principle as medical blood dialysis technology.
  • The powerhouse Toray Arrows team contributes to corporate image as a symbol of sports promotion.
  • UN Humanitarian Award is the first for a Japanese company, demonstrating CSR achievements.
  • Builds diverse domestic sales channel network through 22 major agencies.
  • Toray's swimsuit campaign culture influenced Japanese fashion marketing.

Future Outlook

Growth Drivers

  • Expansion of demand for high-function lightweight materials in aviation
  • Increase in material demand due to electrification and lightweighting trends in automotive industry
  • Advanced needs in medical devices and pharmaceuticals
  • Utilization of innovative material technologies in environment and energy fields
  • Continued growth in semiconductor and electronic components markets
  • New opportunities from reconstruction of global supply chains
  • Production efficiency improvement using digital technology
  • Rising market demand for sustainable products
  • Growth in emerging markets centered on Asia
  • Promotion of R&D for sustainable materials
  • Increased demand for material solutions accompanying corporate decarbonization
  • Innovative development in life sciences field

Strategic Goals

  • Expansion of world share in carbon fiber market
  • Development of all products in line with sustainability standards
  • Formation of high-profit businesses in medical and electronic materials fields
  • Optimization of global production system and promotion of digitalization
  • Achievement of over 50% renewable energy utilization rate
  • Strengthening technology development for environmental burden reduction
  • Building management system enriched with diversity and inclusion
  • Goal of zero-emission factory operations
  • New business sales to exceed 25% of total
  • Contribution to solving global environmental and health challenges

Business Segments

Aircraft Materials

Overview
Provides high-performance lightweight composites adopted in Boeing 787, etc.
Competitiveness
World-class carbon fiber technology
Customers
  • Aircraft manufacturers
  • Aviation parts suppliers
  • Defense industry
Products
  • Carbon fiber composites
  • Prepregs
  • High-function films

Automotive Materials

Overview
Strong in providing high-function materials that balance fuel efficiency and safety.
Competitiveness
Environmental contribution through material lightweighting
Customers
  • Automakers
  • Automotive parts manufacturers
Products
  • Carbon fiber products
  • Engineering plastics
  • Automotive battery materials

Medical and Life Sciences

Overview
Provides safe and high-function medical materials and equipment.
Competitiveness
High biocompatibility and quality control
Customers
  • Medical device manufacturers
  • Pharmaceutical companies
  • Hospitals
Products
  • Artificial kidneys
  • Medical catheters
  • Pharmaceutical raw materials

Electronic Materials and IT/Communications

Overview
Develops high-performance electronic materials supporting cutting-edge technologies.
Competitiveness
High functionality and proprietary material technology
Customers
  • Semiconductor manufacturers
  • Electronics manufacturers
  • Communications equipment manufacturers
Products
  • Semiconductor encapsulants
  • Photoresists
  • Optical films

Environment and Engineering Business

Overview
Provides advanced equipment to reduce environmental impact.
Competitiveness
Pioneer in hollow fiber membrane technology
Customers
  • Local governments
  • Corporate environmental departments
  • Water treatment equipment manufacturers
Products
  • Water treatment membranes
  • Water purifiers
  • Environmental equipment

Fiber Products and Industrial Materials

Overview
Meets industrial needs with diverse fiber products.
Competitiveness
Integrated system from material development to manufacturing
Customers
  • Fiber processors
  • Apparel manufacturers
  • Industrial materials manufacturers
Products
  • Synthetic fibers
  • Nonwovens
  • Industrial films

Resin Manufacturing and Processing

Overview
Corresponds to multiple applications with high-function resin products.
Competitiveness
Proprietary resin synthesis technology and processing capabilities
Customers
  • Automotive parts manufacturers
  • Electronic parts manufacturers
  • Building materials manufacturers
Products
  • ABS resin
  • PPS resin
  • Polypropylene films

Sports and Lifestyle Products

Overview
Creates high value-added products through material brands.
Competitiveness
Balance of luxury and functionality
Customers
  • Sports goods manufacturers
  • Consumer goods manufacturers
Products
  • Artificial leather
  • Functional fiber products

Chemicals and Fine Chemicals

Overview
Deploys a diverse range of products through advanced chemical technology.
Competitiveness
R&D capabilities and quality assurance system
Customers
  • Chemical manufacturers
  • Pharmaceutical companies
  • Industrial product manufacturers
Products
  • Specialty chemicals
  • Pharmaceutical intermediates
  • Functional chemical products

Packaging Materials

Overview
Manufactures safe and functional packaging materials.
Competitiveness
High-performance materials for multiple uses
Customers
  • Food manufacturers
  • Industrial packaging companies
Products
  • Packaging films
  • Sheets

Secondary Battery Materials

Overview
Addresses growth areas through high-function battery material development.
Competitiveness
Advanced material technology and mass production capabilities
Customers
  • Battery manufacturers
  • Automakers
  • Electronics manufacturers
Products
  • Lithium-ion battery separators
  • Automotive battery materials

Construction Materials

Overview
Provides materials suitable for various construction applications.
Competitiveness
Track record in high-performance material manufacturing
Customers
  • Construction companies
  • Civil engineering contractors
Products
  • Refractory materials
  • Insulation materials
  • Gypsum boards

Competitive Advantage

Strengths

  • World's largest carbon fiber production capacity
  • Abundant R&D investment and technological innovation
  • Stable revenue base through diversification
  • Strong management foundation backed by Mitsui Group
  • Global share in high-function materials
  • Wide product range and brand power
  • Development capabilities for environmentally friendly products
  • Strong domestic and international sales network
  • Advanced quality control system
  • Expansion into life sciences field
  • Long industry track record and trust
  • Ability to integrate cutting-edge technology with markets
  • Securing and developing excellent talent
  • Aggressive global strategy
  • Promotion of sustainable development policies

Competitive Advantages

  • Overwhelming share in carbon fiber for aircraft like Boeing 787
  • High-quality material development in synthetic fibers
  • Diversified portfolio in medical and electronic materials
  • Extensive manufacturing and sales base network domestically and internationally
  • Market superiority through proprietary hollow fiber membrane water purification technology
  • Procurement power utilizing Mitsui Group network
  • Strong brand image and technological reliability
  • Global R&D system
  • Comprehensive environmentally considerate product lineup and market response
  • Differentiation through shift to high value-added products
  • Product development leveraging advanced precision processing technology
  • Leadership in composites field
  • High profitability and growth in pharmaceutical-related business
  • Response to lightweighting needs in automotive sector
  • Stable supply through long-term customer relationships

Threats

  • Demand fluctuations due to global economic uncertainty
  • Risk of rising raw material costs
  • Technological innovation and price competition from overseas rivals
  • Increased manufacturing costs due to stricter environmental regulations
  • Risk of engineer shortage and talent outflow
  • Impact of political risks and trade friction
  • Possibility of supply chain destabilization
  • Profit pressure from exchange rate fluctuations
  • Intensified market competition due to alternative material development
  • Damage to production sites from natural disasters
  • Risk of social credit issues
  • Emergence of intellectual property infringement issues

Innovations

2024: Development of High-Strength Carbon Fiber New Material

Overview
Announced a new carbon fiber material with even higher strength for aircraft.
Impact
Contributes to strengthening market competitiveness

2023: Development of New Medical Catheter Product

Overview
Launched a new minimally invasive medical catheter to the market.
Impact
Expansion of share in medical equipment field

2022: Ultra-Thin High-Performance Optical Film

Overview
Succeeded in developing ultra-thin optical film for smart displays.
Impact
Establishment of competitive edge in electronic materials field

2021: Renewal of Environmentally Friendly Water Purifier Products

Overview
Launched new household water purifiers using energy-saving hollow fiber membranes.
Impact
Expansion of market share in environmentally friendly products

2023: Development of Next-Generation Battery Separator Technology

Overview
Developed lithium-ion battery separators that balance high safety and performance.
Impact
Strengthening competitiveness in battery materials business

2020: Introduction of AI-Utilizing Production Management System

Overview
Introduced AI technology to optimize manufacturing lines and improve production efficiency.
Impact
Cost reduction and quality improvement in production

2022: Expansion of Smart Textiles

Overview
Succeeded in developing smart wear using sensor-embedded fiber materials.
Impact
Entry into new markets and value creation

2024: Next-Generation Carbon Fiber Recycling Technology

Overview
Established carbon fiber recycling technology, contributing to reduced environmental impact.
Impact
Strengthening sustainability and promoting resource circulation

2023: Mass Production Technology for Nanofiber New Materials

Overview
Developed mass production technology for high-function nanofibers and commercialized.
Impact
Expected expansion of applications in multiple fields

2021: Innovative Antibacterial and Deodorizing Fiber Products

Overview
Developed new fiber materials with antibacterial and deodorizing properties.
Impact
Strengthening competitiveness in hygiene products field

Sustainability

  • Promotion of carbon fiber recycling technology
  • Environmental burden reduction through water treatment business
  • Energy-saving and CO2 reduction measures at factories
  • Strengthening environmental management in supply chain
  • Support for environmental education in local communities
  • Expansion of R&D for sustainable materials
  • Introduction of product lifecycle assessment
  • Promotion of renewable energy utilization
  • Waste reduction and resource circulation promotion
  • Compliance with global safety and health standards
  • Commitment to diversity and inclusion in management
  • Improvement in transparency of ESG information disclosure