Toray Industries Inc. http://www.alacrastore.com/company-snapshot/Toray_Industries_Inc-1016730 Sunday, July 06, 2008 12:35:08 AM 1016730 Toray Industries Inc. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/655177spcred/655177normThe latest Full Report from S&Pglobal6/20/2008 4:33:45 AM400Full Report655177JapanCommodity ChemicalsAsiaGlobal IssuersCorporationsFull ReportDiversified business segments and wide product range with leading market share Core businesses continue to underpin companywide earnings Increasing earnings contributions in key Carbon Fiber Composite Materials segment, which holds a leading global market share Core businesses exposed to high raw material and fuel prices, and fierce competition from Asian rivals IT-related Products segment faces downward pressure on prices and strong volatility in demand Slight deterioration in financial profile due to active capital investment and external factors such as high oil prices Toray Industries Inc. (Toray) has leading market shares in a wide range of product segments, including fibers, plastics, information electronics, and composite materials, which has helped stabilize and strengthen the company's earnings base. High raw material and fuelJPN15101010 151010 1510 15Toray Industries Inc. (Unsolicited Ratings)368001ASIA3402@JPFULLGLOBISSCORPCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/655178spcred/655178normThe latest Summary from S&Pglobal6/20/2008 4:33:45 AM175Summary655178JapanCommodity ChemicalsAsiaGlobal IssuersCorporationsSummaryToray Industries Inc. (Toray) has leading market shares in a wide range of product segments, including fibers, plastics, information electronics, and composite materials, which has helped stabilize and strengthen the company's earnings base. High raw material and fuel prices are pressuring the earnings of the core Fibers&Textiles and Plastics&Chemicals business segment,. In addition, competition in these segments is fierce because rivals in Asia have launched an offensive with inexpensive products and are catching up from a technological stance. Nevertheless, the two segments have succeeded in strengthening and boosting sales of high-value-added goods, and continue to underpin companywide earnings. Meanwhile, overall earnings contributions from the Carbon Fiber Composite Materials segment, which has a leading share of theJPN15101010 151010 1510 15Toray Industries Inc. (Unsolicited Ratings)368001ASIA3402@JPSUMMARYGLOBISSCORPCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_753230moodys/COP_753230htmlCredit Opinion1/4/2008 2:20:40 AMGlobal Credit Research Credit Opinion ## OCT #### Credit Opinion: Toray Industries, Inc. Toray Industries, Inc. Tokyo, Japan Ratings Category Moody's Rating Outlook Stable Senior Unsecured -Dom Curr A# Toray Capital (Europe) B.V. Outlook...Toray Industries, Inc.753230150.0000NewshtmlToray Industries, Inc.COP_753230Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/616281spcred/616281normThe latest News from S&P11/30/2007 4:32:12 AMNews100global616281JapanCommodity ChemicalsAsiaGlobal IssuersCorporationsChemicalsConsumer ProductsNewsTOKYO (Standard&Poor's) Nov. 30, 2007--Japan's chemical industry posted solid interim profits as of Sept. 30, 2007, due to progress in offsetting increases in raw material costs with price increases, according to a Japanese-language report published today by Standard&Poor's Rating Services. On Oct. 26, 2007, Standard&Poor's Rating Services raised its long-term ratings on Asahi Kasei Corp. to 'A' from 'A-' and revised to positive from stable the outlook on its long-term ratings on Sumitomo Chemical Co. Ltd., reflecting increased stability in both companies' revenue bases due to business diversification and expectations that both companies will be able to maintain their improved financial profiles. The upgrade and outlook revision were underpinned by firm results for theJPN15101010 151010 1510 15Toray Industries Inc. (Unsolicited Ratings)368001ASIA3402@JPNEWSJPN86561015101010 151010 1510 1515101020 151010 1510 15Mitsui Chemicals Inc. (Unsolicited Ratings)Sumitomo Chemical Co. Ltd. (Unsolicited Ratings)Asahi Kasei Corp. (Unsolicited Ratings)Mitsubishi Chemical Holdings Corp. (Unsolicited Ratings)315757315758315762397294ASIA4183@JP4005@JP3407@JP4188@JPGLOBISSCORPChemicalsConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/598800spcred/598800normThe latest Full Report from S&P8/30/2007 4:28:08 AMFull Report400global598800JapanCommodity ChemicalsAsiaGlobal IssuersCorporationsConsumer ProductsFull ReportDiversification of business segments limits revenue fluctuations Leading market shares in a wide range of product segments Strong growth with high profitability of Carbon Fiber Composite Materials segment Exposure to fluctuations in raw material prices and downward price pressure Expected deceleration in pace of improvement of financial profile over the next several years due to increased capital investment Although Toray Industries Inc. is exposed to potentially negative factors in the external business environment, such as fluctuations in raw materials prices and demand, the diversification of its business segments prevents revenue fluctuations to an extent. In addition to this, the company's products have leading market shares in a wide range of segments—including fibers, plastics, information electronics, and composite materials—and its selectionJPN15101010 151010 1510 15Toray Industries Inc. (Unsolicited Ratings)368001ASIA3402@JPFULLGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/598801spcred/598801normThe latest Summary from S&P8/30/2007 4:28:08 AMSummary175global598801JapanCommodity ChemicalsAsiaGlobal IssuersCorporationsConsumer ProductsSummaryAlthough Toray Industries Inc. is exposed to potentially negative factors in the external business environment, such as fluctuations in raw materials prices and demand, the diversification of its business segments prevents revenue fluctuations to an extent. In addition to this, the company's products have leading market shares in a wide range of segments—including fibers, plastics, information electronics, and composite materials—and its selection and focus in investment targets even among the diversified businesses have further stabilized and strengthened the company's revenue base. Revenue contributions from the Carbon Fiber Composite Materials and IT-related Products segments have grown due to stronger business franchises as these were designated as strategic expansion businesses, which had been given priority for the infusion of management resources. Notably,JPN15101010 151010 1510 15Toray Industries Inc. (Unsolicited Ratings)368001ASIA3402@JPSUMMARYGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Research