3402
TORAY INDUSTRIES,INC.
東レ株式会社
Textiles & Apparels
Toray Industries, Inc., together with its subsidiaries, manufactures, processes, and sells fibers and textiles, performance chemicals, carbon fiber composite materials, environment and engineering products, and life science products in Japan, China, North America, Europe, and internationally. The company offers filament yarns, staple fibers, and spun yarns, as well as woven and knitted fabrics of nylon, polyester, acrylics, and others; non-woven fabrics; ultra-microfiber non-woven fibers; and apparel products. It also provides nylon, ABS, PBT, PPS, and other resins and molded products; polyolefin foam products; polyester, polyethylene, polypropylene, and other films; processed film products; raw materials for synthetic fibers and other plastics; fine chemicals; electronic and information materials; and graphic materials. In addition, the company offers carbon fibers, carbon fiber composite materials, and molded products; analysis, physical evaluation, research, and other services; and pharmaceuticals, medical devices, etc. Further, it provides engineering services; condominiums; industrial equipment and machinery; water treatment membranes and related equipment; and materials for housing, building, and civil engineering applications. Additionally, it offers TORAYVINO, a household water purifier; Toraysee, a cleaning cloth made with ultra-microfiber; 3D-Gene, a high-sensitivity DNA chip; materials and solutions for automobiles; and semiconductors combined support for materials, equipment, and analysis, as well as provides services, including design, procurement, and construction of factory building, air conditioning, production equipment, and utilities right. It offers its products through & +, Ultrasuede, Ecsaine, senbism, LIVMOA, hitoe, 3DeFX+, and TORAIN brand names. The company was formerly known as Toyo Rayon Co., Ltd. and changed its name to Toray Industries, Inc. in 1970. Toray Industries, Inc. was incorporated in 1926 and is headquartered in Tokyo, Japan.
Price
¥1,192
Market Cap
¥1.9T
Ent. Value
¥2.4T
Net Debt
−¥562.3B
Shares Out.
1.6B
P / E
24.4×
EV / EBIT
19.0×
P / Book
—
P / NCAV
N/M
Div. Yield
1.51%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥2,563.3B | ¥2,464.6B | ¥2,489.3B | ¥2,228.5B |
| Cost of Sales | ¥2,057.4B | ¥2,021.1B | ¥2,068.5B | ¥1,792.6B |
| Gross Profit | ¥505.9B | ¥443.5B | ¥420.8B | ¥436.0B |
| SG&A | ¥366.1B | ¥346.3B | ¥330.9B | ¥305.8B |
| Operating Income | ¥127.5B | ¥57.7B | ¥109.0B | ¥100.6B |
| Non-Operating Income | ¥11.1B | ¥12.1B | ¥8.5B | ¥6.7B |
| Non-Operating Expenses | ¥21.9B | ¥19.1B | ¥13.0B | ¥6.3B |
| Pre-tax Income | ¥114.3B | ¥59.6B | ¥111.9B | ¥120.3B |
| Net Income (owners) | ¥77.9B | ¥21.9B | ¥72.8B | ¥84.2B |
| Minority Interest | ¥8.8B | ¥8.6B | ¥8.0B | ¥9.4B |
| Comprehensive Income | ¥50.6B | ¥245.5B | ¥168.8B | ¥201.4B |
| EBITDA | ¥256.5B | ¥186.8B | ¥235.4B | ¥220.9B |
| EPS | ¥48.93 | ¥13.67 | ¥45.49 | ¥52.63 |
| Shares Outstanding | 1.56B | 1.60B | 1.60B | 1.60B |
| Shares Issued (total) | 1.63B | 1.63B | 1.63B | 1.63B |
| Treasury Shares | 66.9M | 29.0M | 29.6M | 29.9M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥3,292.6B | ¥3,466.5B | ¥3,194.0B | ¥3,043.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥1,462.0B | ¥1,522.6B | ¥1,429.3B | ¥1,373.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥237.3B | ¥235.9B | ¥224.0B | ¥229.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥1,830.6B | ¥1,943.9B | ¥1,764.8B | ¥1,670.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥1,109.6B | ¥1,081.1B | ¥1,007.8B | ¥990.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥94.6B | ¥96.0B | ¥95.5B | ¥88.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥99.3B | ¥95.3B | ¥84.6B | ¥80.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥25.2B | ¥26.1B | ¥24.3B | ¥22.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥1,472.0B | ¥1,620.2B | ¥1,558.2B | ¥1,544.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥857.5B | ¥865.7B | ¥826.2B | ¥741.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥367.1B | ¥379.8B | ¥377.0B | ¥279.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥614.5B | ¥754.4B | ¥732.0B | ¥803.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥432.5B | ¥530.6B | ¥534.1B | ¥618.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥51.1B | ¥89.3B | ¥56.3B | ¥42.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥1,820.6B | ¥1,846.4B | ¥1,635.8B | ¥1,499.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥120.6B | ¥120.9B | ¥120.9B | ¥120.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥1,170.5B | ¥1,068.4B | ¥1,037.1B | ¥979.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-57.2B | ¥-19.2B | ¥-19.6B | ¥-19.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥327.3B | ¥418.1B | ¥248.7B | ¥177.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥1,709.0B | ¥1,736.0B | ¥1,535.0B | ¥1,405.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥111.6B | ¥110.3B | ¥100.8B | ¥94.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥799.6B | ¥910.4B | ¥911.1B | ¥898.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-562.3B | ¥-674.5B | ¥-687.1B | ¥-668.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥-10.0B | ¥-97.5B | ¥-129.0B | ¥-171.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥-6 | ¥-61 | ¥-81 | ¥-107 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥1,092 | ¥1,083 | ¥958 | ¥878 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥255.0B | ¥185.7B | ¥145.2B | ¥138.3B |
| D&A | ¥129.1B | ¥129.2B | ¥126.4B | ¥120.4B |
| Investing CF | ¥-63.2B | ¥-121.0B | ¥-102.7B | ¥-57.2B |
| Financing CF | ¥-188.5B | ¥-70.4B | ¥-57.4B | ¥-101.5B |
| Free Cash Flow | ¥255.0B | ¥185.7B | ¥145.2B | ¥138.3B |
| Net Change in Cash | ¥1.4B | ¥11.9B | ¥-6.4B | ¥-6.0B |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 5
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行㈱(信託口)
|
246,679 | 15.77% |
| 2 |
Japan Custody Bank
㈱日本カストディ銀行(信託口)
|
125,375 | 8.01% |
| 3 | 日本生命保険(相) | 71,212 | 4.55% |
| 4 | 大樹生命保険㈱ | 35,961 | 2.30% |
| 5 |
State Street Bank and Trust Company
ステート ストリート バンク ウェスト クライアント トリーティー 505234 (常任代理人 ㈱みずほ銀行決済営業部)
|
30,019 | 1.92% |
| 6 |
State Street Bank and Trust Company
ステート ストリート バンク アンド トラスト カンパニー 505001 (常任代理人 ㈱みずほ銀行決済営業部)
|
27,672 | 1.77% |
| 7 | 全国共済農業協同組合連合会 | 26,593 | 1.70% |
| 8 |
State Street Bank and Trust Company
ステート ストリート バンク アンド トラスト カンパニー 505301 (常任代理人 ㈱みずほ銀行決済営業部)
|
26,525 | 1.70% |
| 9 |
State Street Bank and Trust Company
ステート ストリート バンク アンド トラスト カンパニー 505025 (常任代理人 ㈱みずほ銀行決済営業部)
|
26,088 | 1.67% |
| 10 |
Sumitomo Mitsui Banking Corporation
㈱三井住友銀行
|
24,022 | 1.54% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
23.8%
+1.2% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
7.1%
+2.3% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
10.1%
+0.2% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 40.9% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 日本マスタートラスト信託銀行 | 15.95% | 14.35% | 15.77% +1.42% | |
| Japan Custody Bank 日本カストディ銀行 | 9.83% | 8.28% | 8.01% -0.27% | |
| State Street | 1.67% | 3.45% | 7.06% +3.61% | |
| 日本生命保険 | 4.45% | 4.44% | 4.55% +0.11% | |
| 大樹生命保険 | 2.24% | 2.24% | 2.30% +0.06% | |
| 全国共済農業協同組合連合会 | 1.66% | 1.66% | 1.70% +0.04% | |
| Sumitomo Mitsui Banking Corporation 三井住友銀行 | 1.50% | 1.50% | 1.54% +0.04% | |
| JP Morgan last seen 2024 | Exited Top 10 | 1.26% | 1.32% | — |
| 三井不動産 last seen 2023 | Exited Top 10 | 1.21% | — | — |
| Concentration (HHI) ⓘ | 387 | 318 | 394 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥96,213M
-38% since 2023
Holdings
47
+8 new
24 exited
Trend
15 unwinding
vs 2023
| Held Company | FY2025 ¥96,213M total | FY2023 ¥154,916M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Mitsui Fudosan Co., Ltd.
三井不動産㈱
|
19,503 |
+200.0%
↑
14,658,687
|
12,137 | 4,886,229 | M |
|
Mitsui & Co., Ltd.
三井物産㈱
|
17,553 |
+100.0%
↑
6,270,120
|
12,904 | 3,135,060 | M |
|
KAKEN PHARMACEUTIAL CO., LTD.
科研製薬㈱
|
8,570 |
-16.7%
↓
1,912,456
|
8,480 | 2,294,912 | M |
|
Sumitomo Mitsui Financial Group, Inc.
㈱三井住友フィナンシャルグループ
|
7,173 |
+26.7%
↑
1,890,000
|
7,905 | 1,491,999 | |
|
TBS Holdings Co., Ltd.
㈱TBSホールディングス
|
6,593 |
-33.3%
↓
1,546,300
|
4,419 | 2,319,500 | |
| MS ADインシュアランスグループホールディングス㈱ | 6,177 |
+50.0%
↑
1,915,400
|
5,243 | 1,276,950 | |
|
GOLDWIN INC.
㈱ゴールドウイン
|
4,865 |
589,084
|
7,422 | 589,084 | M |
|
Sumitomo Mitsui Trust Group, Inc.
三井住友トラストグループ㈱
|
3,770 |
NEW
New
1,013,526
|
— | ||
|
KOMATSU MATERE Co., Ltd.
小松マテーレ㈱
|
2,947 |
3,749,367
|
2,591 | 3,749,367 | M |
|
The Japan Steel Works, Ltd.
㈱日本製鋼所
|
2,212 |
-25.0%
↓
422,400
|
1,397 | 563,400 | M |
| Shinkong Synthetic Fibers Corp. | 2,185 |
35,629,145
|
2,809 | 35,629,145 | |
|
NITTO BOSEKI CO.,LTD.
日東紡績㈱
|
1,691 |
-33.3%
↓
406,462
|
1,228 | 609,662 | M |
|
TSI HOLDINGS CO., LTD.
㈱TSIホールディングス
|
1,480 |
-34.8%
↓
1,333,400
|
1,297 | 2,046,400 | M |
|
MITSUI-SOKO HOLDINGS Co., Ltd.
三井倉庫ホールディングス㈱
|
1,390 |
174,651
|
686 | 174,651 | M |
|
ATSUGI CO., LTD.
アツギ㈱
|
1,130 |
1,025,513
|
410 | 1,025,513 | M |
|
THE JAPAN WOOL TEXTILE CO., LTD.
日本毛織㈱
|
957 |
-49.3%
↓
616,480
|
1,201 | 1,216,480 | M |
|
MAEDA KOSEN CO., LTD.
前田工繊㈱
|
953 |
500,000
|
1,608 | 500,000 | |
|
NAGAILEBEN Co.,Ltd.
ナガイレーベン㈱
|
938 |
484,000
|
987 | 484,000 | |
|
GSI Creos Corporation
㈱GSIクレオス
|
787 |
396,560
|
631 | 396,560 | M |
|
LINTEC Corporation
リンテック㈱
|
695 |
-50.0%
↓
252,236
|
1,092 | 504,472 | M |
|
Kurashiki Spinning Co., Ltd.
倉敷紡績㈱
|
656 |
110,041
|
277 | 110,041 | M |
|
TOAGOSEI CO., LTD.
東亞合成㈱
|
532 |
-50.0%
↓
376,800
|
928 | 753,500 | M |
|
GLOBERIDE, Inc.
グローブライド㈱
|
471 |
245,200
|
606 | 245,200 | |
|
Fuji Pleuram Co., Ltd.
フジプレアム㈱
|
449 |
-16.7%
↓
1,300,000
|
591 | 1,560,000 | |
|
Central Japan Railway Company
東海旅客鉄道㈱
|
357 |
+400.0%
↑
125,000
|
395 | 25,000 | |
|
TOLI Corporation
東リ㈱
|
346 |
732,000
|
200 | 732,000 | |
|
KIMOTO CO.,LTD.
㈱きもと
|
300 |
-50.0%
↓
1,052,000
|
419 | 2,104,000 | M |
|
MATSUOKA CORPORATION
㈱マツオカコーポレーション
|
270 |
150,000
|
212 | 150,000 | |
|
GRAPHITE DESIGN INC.
㈱グラファイトデザイン
|
266 |
360,000
|
307 | 360,000 | |
|
AOYAMA TRADING Co., Ltd.
青山商事㈱
|
251 |
-50.0%
↓
123,300
|
231 | 246,600 | M |
|
Bando Chemical Industries, Ltd.
バンドー化学㈱
|
235 |
-25.0%
↓
142,606
|
201 | 190,106 | |
|
Ashimori Industry Co.,Ltd
芦森工業㈱
|
88 |
-50.0%
↓
29,786
|
87 | 59,572 | |
|
ICHIKAWA CO., LTD.
イチカワ㈱
|
87 |
-50.0%
↓
45,697
|
122 | 91,397 | M |
|
seiren co.,ltd.
セーレン㈱
|
78 |
-50.0%
↓
31,763
|
148 | 63,525 | |
|
Nippon Pigment Holdings Company Limited
日本ピグメントホールディングス㈱
|
56 |
NEW
New
17,943
|
— | ||
|
NITTO SEIMO CO., LTD.
日東製網㈱
|
52 |
NEW
New
31,812
|
— | M | |
|
TOKYO SOIR CO.,LTD.
㈱東京ソワール
|
45 |
NEW
New
53,320
|
— | M | |
| Bolt Biotherapeutics, Inc. | 43 |
NEW
New
717,514
|
— | ||
|
TAKAGI SEIKO CORPORATION
㈱タカギセイコー
|
34 |
NEW
New
25,000
|
— | ||
|
Japan Felt Co., Ltd.
日本フエルト㈱
|
24 |
NEW
New
50,000
|
— | ||
|
FUJIX Ltd.
㈱フジックス
|
4 |
NEW
New
2,200
|
— | M | |
| Bluejay Diagnostics, Inc. | — | — | |||
|
SUMINOE Co., Ltd.
SUMINOE㈱
|
— | — | |||
| ㈱三井E S | — | — | M | ||
| Kolon Industries, Inc. | — | — | |||
| Kolon Corp. | — | — | |||
|
Isetan Mitsukoshi Holdings Ltd.
㈱三越伊勢丹ホールディングス
|
— | — | |||
|
TOYOTA INDUSTRIES CORPORATION
㈱豊田自動織機
|
— |
−100%
Exit
—
|
8,399 | 1,142,700 | M |
|
DAIICHI SANKYO COMPANY, LIMITED
第一三共㈱
|
— |
−100%
Exit
—
|
14,464 | 2,999,583 | M |
|
Mitsubishi Heavy Industries,Ltd.
三菱重工業㈱
|
— |
−100%
Exit
—
|
4,081 | 836,900 | M |
|
TOYOTA MOTOR CORPORATION
トヨタ自動車㈱
|
— |
−100%
Exit
—
|
4,148 | 2,206,135 | |
|
DAIKIN INDUSTRIES, LTD.
ダイキン工業㈱
|
— |
−100%
Exit
—
|
8,606 | 363,800 | M |
|
ASICS Corporation
㈱アシックス
|
— |
−100%
Exit
—
|
2,816 | 751,034 | |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
— |
−100%
Exit
—
|
2,464 | 2,906,460 | |
| パナソニック ホールディングス㈱ | — |
−100%
Exit
—
|
2,502 | 2,117,000 | M |
|
NIFCO INC.
㈱ニフコ
|
— |
−100%
Exit
—
|
1,572 | 419,300 | |
|
ALPS ALPINE CO., LTD.
アルプスアルパイン㈱
|
— |
−100%
Exit
—
|
1,650 | 1,300,000 | |
|
SHIMANO INC.
㈱シマノ
|
— |
−100%
Exit
—
|
1,520 | 66,550 | |
|
NITTO DENKO CORPORATION
日東電工㈱
|
— |
−100%
Exit
—
|
941 | 110,000 | |
|
SANKYO SEIKO CO.,LTD.
三共生興㈱
|
— |
−100%
Exit
—
|
891 | 1,641,320 | M |
|
Nomura Micro Science Co.,Ltd.
野村マイクロ・サイエンス㈱
|
— |
−100%
Exit
—
|
208 | 50,000 | |
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
— |
−100%
Exit
—
|
693 | 369,100 | |
|
Oji Holdings Corporation
王子ホールディングス㈱
|
— |
−100%
Exit
—
|
867 | 1,655,000 | M |
|
Iyogin Holdings,Inc.
㈱いよぎんホールディングス
|
— |
−100%
Exit
—
|
350 | 465,364 | |
|
THE SHIGA BANK,LTD.
㈱滋賀銀行
|
— |
−100%
Exit
—
|
348 | 129,864 | M |
|
TOYODA GOSEI CO.,LTD.
豊田合成㈱
|
— |
−100%
Exit
—
|
222 | 97,202 | |
|
FUJIFILM Holdings Corporation
富士フイルムホールディングス㈱
|
— |
−100%
Exit
—
|
14,836 | 2,215,000 | M |
| 三井住友トラスト・ホールディングス㈱ | — |
−100%
Exit
—
|
3,452 | 760,163 | |
|
Dai Nippon Printing Co.,Ltd.
大日本印刷㈱
|
— |
−100%
Exit
—
|
310 | 83,607 | |
| 住江織物㈱ | — |
−100%
Exit
—
|
272 | 129,905 | M |
| Bolt Biotherapeutics, Inc. | — |
−100%
Exit
—
|
133 | 717,514 | |
| Portfolio total | 96,213 | 154,916 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding