With lacklustre sales of commercial carpet tiles and wall coverings and drop in domestic and overseas automobile related sales due to global economic slowdown, Suminoe Textile, a Japanese manufacturer and seller of interior products, posted 12.9 per cent fall in its sales to ¥79.7 billion during FY21 ended on May 31, 2021, against ¥91.5 billion in the prior year.
Gross profit for the year slipped to ¥16.8 billion (¥18.7 billion), whereas operating income was ¥1.0 billion (¥1.5 billion). Profit attributable to owners of parent rose to ¥409 million (¥142 million).
The company’s sales from Interior Fittings segment dropped to ¥31.0 billion (¥33.3 billion). While sales of household carpets for online and retail stores were robust, sales of commercial carpet tiles and wall coverings were sluggish, the company said in a press release.
Suminoe's Automotive Textiles and Traffic Facilities' segment sales during FY21 dipped to ¥45.1 billion (¥54.0 billion), due to decline of global car production by Japanese automakers and a sluggish demand for interior materials for railway vehicles and buses, the Japanese firm further added.
Moreover, decreases in sales of roofing materials, civil engineering materials, interior materials for airplanes, and Sumitron, a continuous polyester fibre yarn due to the impact of the Covid19 pandemic, Functional Materials' segment sales were down to ¥3.1 billion (¥3.9 billion).
Regionally, Suminoe’s sales in the market it serves was: Japan ¥56.5 billion, North and Central America ¥10.4 billion, Asia ¥12.6 billion, and Other ¥140 million.
“Presently, a cross-business project has been established. Gathering the strengths of each business field such as the design capability of the interior fittings segment, the processing technology for fabric materials used in the automotive textiles and traffic facilities segment, and high-function technologies including the deodorising, antibacterial and antiviral capabilities of the functional materials segment, the company engages in the development of next-generation interior fittings, which will be required for our living spaces in the future,” the company said in the release.
Fibre2Fashion News Desk (JL)