Consolidated financial results of all seven man-made fiber producers for the fiscal year ending in March 2008 showed higher sales, but four producers posted lower operating profits, six firms lower pretax profits, and five firms lower net income. These results signal a drastic change from the period up to the preceding year in which most producers registered all-time highs. The degree of shifting rising costs to product selling prices decided the outcome of business performance. The textile business shows the same tendency. Asahi Kasei, which reported substantially higher profits in textiles, increased its selling prices by 4.3 billion yen against increased costs of 3 billion yen. Selling prices rose with a focus on spandex and boosted earnings.
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