President Takashi Matsuura said in an interview in Tokyo that the company's annual LED sales may rise to about 30 billion yen ($270 million) in the year ending March 2009, compared with 16 billion yen last fiscal year.
Toyoda Gosei is targeting products for backlighting screens in laptops and TVs, because these LEDs are more profitable than devices used in mobile phones, Matsuura said. Last year, 72 percent of the company's LED sales were for mobile phones.
Matsuura said that Toyoda may also offer LED products for car navigation displays. Toyoda is 43 percent-owned by Toyota Motor Corp and generates more than 90 percent of revenue from (non LED) auto parts.