日本东丽，碳纤维四大应用市场全线下滑

Core Viewpoint - Toray Group reported a decline in revenue and profits for the first half of the fiscal year 2025, attributing the downturn to economic slowdowns in the US, Europe, and China, as well as uncertainties from US policy changes [2][3]. Financial Performance - For the first half of fiscal year 2025, Toray achieved revenue of 1.23 trillion yen, a decrease of 4.6% year-on-year [2]. - Core operating profit fell to 67.9 billion yen, down 14.2% [2]. - Net profit attributable to the parent company dropped significantly by 33.5% to 36.9 billion yen [2]. Business Segment Analysis - The carbon fiber composite materials segment saw a revenue decline of 11.4% to 135.4 billion yen, with core operating profit decreasing by 19.6% to 9.4 billion yen, both declines exceeding the overall group performance [2][3]. - Aerospace applications remain a significant part of the carbon fiber business, despite revenue dropping from 53.4 billion yen to 48.2 billion yen, accounting for 36% of the segment [3]. - Industrial applications revenue decreased from 84.8 billion yen to 73.1 billion yen, making up 54% of the segment, with pressure vessel business revenue down 11.2% [3]. - Other applications, including sports and automotive, saw a slight decline from 14.6 billion yen to 14.0 billion yen, representing 10% of the segment [3]. Challenges and Strategic Initiatives - Toray faces multiple challenges, including the impact of yen appreciation on overseas revenue and profits, supply chain inventory adjustments affecting short-term demand, and cost pressures [3]. - The company has been implementing a mid-term management plan called "Project AP-G 2025" since fiscal year 2023, focusing on sustainable growth, ultimate value creation, operational excellence, human-centered management, and risk management [3].