Japan's Teijin Ltd has announced that it expects to record group net profits of around 22bn yen ($176.92m) for the current financial year, a 38 per cent increase from the 16bn yen ($128.67m) recorded last year. The company recently announced that it would be buy a further 25 per cent stake in Mexican polyester and nylon textile production and sales joint venture Akra Teijin from Alfa's Alpek unit, increasing its stake to 75 per cent, a move that it believes will help bolster its 2002 trading figures.