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Japan-Update

Toray's growth prospects buoyed by carbon fiber recovery

Stock hits nearly half-year high even as quarterly profit shrinks

Toray's carbon fiber is used extensively in the Boeing 787 jetliner.

TOKYO -- Toray Industries shares touched a roughly five-month high Monday even after the Japanese materials maker reported a smaller first-quarter profit. The secret to the counterintuitive success lies in the carbon fiber business.

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