Onamba to Expand Solar Cell Wiring Unit Sale in F2008

Onamba, Osaka based electric wire and cable manufacturer, announced on Monday the firm aims 43% year-on-year higher revenue for solar cell wiring unit and 25% year-on-year higher revenue for wiring harness for in-vehicle appliances in fiscal 2008 starting April. The firm estimates sale growth for flat-TV wiring harness would slow down in F2008, one of Onamba’s core products. The firm aims to gain year-on-year higher sale and profit in F2008 by expansion of solar cell and car related products.Onamba targets consolidated revenue at 33 billion yen for F2008, up by 1 billion yen from F2007, recurring profit at 1.7 billion yen, up by 0.2 billion yen, and net profit at 0.9 billion yen, up by 0.1 billion yen. The firm launched 3- year management plan by March 2011 along which the firm aims consolidated revenue at 40 billion yen, recurring profit at 2.7 billion yen and net profit at 1.5 billion yen for F2010.Onamba is Japanese largest supplier of wiring harness for household electric appliances, whose global share is near 20% for wiring harness applied into flat TVs. However, market price of wiring harness has significantly downed since 2007 due to severe competitions among wiring harness makers. Wireless trend is also emerging among household electric appliances. Onamba expects revenue ratio of the product would decrease by 2 percentage points to 34%.As to solar cell wiring unit, Onamba holds about 30% shares in global market. The firm is trying to increase the sales for non-Japanese users through cooperation with Mitsui & Co., Japanese major trading house. Onamba aims to expand sale of solar cell wiring unit by 43% to 5.6 billion yen in F2008 compared with F2007 and targets 10 billion yen in F2010.