Slow Building Market Suffers Japan Major Shutter Makers’ Results

Three of Japanese major 4 shutter makers posted lower operating and recurring profit for the year ending March 2008 from previous year while TOSTEM Suzuki Shutter MFG reported higher profit. They were suffered from slow building market and higher cost for aluminium and other materials. They try to improve the profitability through price hike. Sanwa Holdings posted lower sales and profit for the year ending March 2008 from previous year, when the firm posted record profit. European operation of Novoferm’s major profit decrease impacted the group’s results. The firm expects the operating profit excluding 3.9 billion yen of amortization for offshore subsidiary for the year ending March 2009 will be better than previous year. Bunka Shutter reported the core business of shutter unit was suffered from slow building activity in the year ending March 2008. The firm expects higher sales and profit for the year ending March 2009 from previous year due to higher sales of high valued products and cost cutting. Toyo Shutter posted more than 20% lower operating and recurring profit for the year ending March 2008 from previous year. The firm tries to improve the profitability for the year ending March 2009 as the first year of new mid-term business plan.TOSTEM Suzuki Shutter posted higher profit for the year ending March 2008 from previous year despite of the severe market condition. The firm tries to improve the profitability through better maintenance service.