Toray Industries Inc. said Wednesday it has again raised its group earnings forecast for the fiscal first half, having already done so in August.

In its consolidated earnings forecast, Japan’s biggest synthetic fiber maker said it now expects to generate a net profit of 10.5 billion yen, up 50 percent from the 7 billion yen estimated Aug. 5.

The company attributed the robust outlook to a series of structural reform steps tied to the development of new materials and products.

The firm’s pretax profit estimate for the half-year period have been revised up to 23 billion yen from 20 billion yen, while its sales forecast sales now stands at 530 billion yen, up from 525 billion yen.

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