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MarketScreener Homepage  >  Equities  >  Tokyo  >  Toray Industries Inc    3402   JP3621000003

TORAY INDUSTRIES INC

(3402)
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Toray Industries : to Establish New Water Treatment Membrane Company in China

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05/18/2019 | 05:53pm EDT

Toray Industries, Inc. has announced that it has decided to establish a new company in Foshan, China,that will engage in production and sales of water treatment membrane products including reverse osmosis (RO), nanofiltration (NF), ultrafiltration (UF), microfiltration (MF) and membrane bioreactor (MBR) solutions.

The new company will be named Toray Membrane (Foshan) Co., Ltd. (TMFC), and Toray is moving forward with land acquisition,construction and other activities to prepare for its establishment.

Foshan is also the site where construction of the premises of Toray Polytech (Foshan) Co., Ltd. (TPF) is already underway. This company that will engage in production and sales for the high-performance polypropylene spunbond (“PP spunbond) business. TMFC will be located adjacent to the TPF premises, ensuring an efficient operating structure by sharing management and systems infrastructure.

Demand for water treatment membranes has been rapidly expanding in China in recent years. To date, in addition to promoting the use of household water purifiers, Toray has contributed to improving the water environment and solving water scarcity issues in China by providing various kinds of water treatment membranes for waterworks and industrial use, desalination plants, and wastewater treatment and recycling.

Guangdong Province is moving to strengthen industry-academia partnerships and is systematically promoting research and development in advanced technologies.

Foshan City is located in the center of the Guangdong Province Pearl River Delta economic zone and has a long track record of attracting Japanese companies of all sizes to engage in business partnerships in the region.

Toray already has water treatment membrane production and sales companies in operation in Beijing and Yancheng. The establishment of a new base in Foshan will enable Toray to respond nimbly to the rapidly expanding water treatment membrane market in China, where environmental improvement efforts are being energetically promoted.

(c) 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (JPY)
Sales 2020 2 481 B
EBIT 2020 -
Net income 2020 94 382 M
Debt 2020 780 B
Yield 2020 2,20%
P/E ratio 2020 12,79
P/E ratio 2021 11,53
EV / Sales 2020 0,82x
EV / Sales 2021 0,77x
Capitalization 1 246 B
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Number of Analysts 13
Average target price 909  JPY
Spread / Average Target 19%
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NameTitle
Akihiro Nikkaku President, CEO, COO & Representative Director
Yuji Fukuda Director, Manager-Finance & Accounting
Tetsuya Tsunekawa Managing Director & GM-Research
Koichi Abe Representative Director & Vice President
Ryo Murayama Representative Director & Vice President
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