Toray Industries, Inc. · Fiscal year ended March 2026
From fibers to wings and water: Toray's century of moving materials.
Toray began in 1926 as a rayon producer. A century later, revenue is ¥2.585 trillion. Fibers are still the largest business, but the group also spans carbon fiber, electronic materials, water-treatment membranes and healthcare. The useful connection is not simply diversification. Polymer chemistry, spinning, film formation and nanoscale control repeatedly moved from one material system to another.
This is not investment advice or a stock recommendation. We reorder company-published primary-source facts to make the shape of the business easier to see.
Toray began in 1926 as a rayon producer.
A century later, group revenue is ¥2.585 trillion.
Fibers are still the largest business, but they no longer explain the whole company.
Revenue is ¥2.585 trillion
The largest business is still Fibers & Textiles.
Fibers still represent 41%
A second large block sits outside traditional fibers.
Performance Chemicals is 35%
Carbon fiber is smaller in sales, but much more visible in aircraft.
Carbon Fiber Composite Materials is ¥300.1bn
Water treatment and healthcare form another distinct branch.
Water Treatment & Healthcare is ¥166.8bn
A century later, Toray is much broader than fibers
Company-disclosed FY2025 revenue shares. Rounding may cause the shares not to total exactly 100%.
Why do such different businesses sit inside one company?
Toray itself points to a common technology base.
Four core technologies
That technology base began with fibers.
The company started with rayon in 1926
Eventually the old company name no longer fit.
“Rayon” left the company name in 1970
One branch of that materials research became carbon fiber.
Carbon fiber moved from sports into aircraft
Another branch became membranes that selectively move water.
Toray says its membranes handle water for roughly 400 million people
Fibers, carbon fiber, films and water-treatment membranes look very different.
But in Toray’s own technology framing, they share the same habit: designing material structure at ever smaller scales to create a specific function.
THE VIEW AFTER THE NUMBERS
What the numbers suggest
Toray generated ¥2.585 trillion of revenue in FY2025.
Fibers & Textiles are still the largest business at 41%, but Performance Chemicals are 35%, Carbon Fiber Composite Materials 12%, and Water Treatment & Healthcare 6%.
The company began with rayon in 1926. By 1970, diversification had gone far enough that “Rayon” disappeared from the company name.
Carbon-fiber research that began in 1961 eventually reached primary aircraft structures. Membrane research that began in the same decade now reaches 70 countries, with a water-processing capacity Toray equates to the needs of roughly 400 million people.
Toray did not abandon fibers and become something unrelated.
It kept moving the same material-design capabilities from clothing to wings, water and electronic materials.
Primary sources used
Toray at a Glance
Toray Industries, Inc.
Open source →Toray's History
Toray Industries, Inc.
Open source →TORAYCA Carbon-fiber prepreg certified as a primary structural material for Boeing aircraft
Toray Industries, Inc.
Open source →History
Toray Industries, Inc.
Open source →