Notice regarding price increase of airbag yarns and fabrics
Toyobo Co., Ltd. is announcing the price increase of yarns and fabrics for automobile airbags as follows.
1. Background
The profitability of Toyobo’s automobile airbags yarns and fabrics business has significantly deteriorated since a yarn factory was destroyed by fire accident occurred at the Tsuruga Research and Production Center in 2018.
Under these circumstances, Toyobo has been putting in maximum effort to achieve thorough cost reduction and improve productivity, also proceeded product price revisions. But we decided to revise the prices of products after determining that, under the present price structure, it is difficult to continue the business and supply our products to clients stably.
2. Products subject to price increase and their ranges
Yarns and fabrics for automobile airbags: 10% - 15% increase from the current prices.
3. Timing of the price increase
Products to be shipped on April 1, 2024, and beyond.
For more information, contact
Public Relations Group, Corporate Communication Department, Toyobo Co., Ltd.
MAILpr_g@toyobo.jp
Cautionary Statement
This website contains forward-looking statements that reflect Toyobo's plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyobo's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.