Textile maker Teijin Ltd. said Monday it posted a group net profit in fiscal 2004 for the second straight year due mainly to cost cuts and disposal of loss-making businesses.

The company had a group net profit of 9.16 billion yen in the reporting year through March 31, an 8.3 percent increase from the year before.

Withdrawal from unprofitable businesses, such as commercial building rentals, helped Teijin boost its group profits. Cost reduction and higher sales, including those from chemical products, contributed to the upsurge.