Sanwa Holdings Targets 83% Higher Profit for F2010

Sanwa Holdings Corporation announced on Wednesday the firm targets 16.5 billion yen of consolidated net profit for the year to March 2011, which is 83.3% higher than estimated profit for the year to March 2008. The firm tries to improve the profitability through the new 3-year plan starting fiscal 2008 staring April. The firm seeks next growth by expanding the offshore business while the firm seeks better opportunities for business other than shutter. The firm targets 29.5 billion yen of consolidated operating profit with 360 billion yen of sales for the year ending March 2011, which is 63.9% and 9.4% higher than the estimated profit and sales for the year ending March 2008. The operating profit will increase to 8.2% from 2.7% while the return on equity will increase to 14% from 8.3%. The firm tries to expand other business than shutter when the shutter market decreases in Japan. The firm also improves quality, cost and delivery level for offshore business to improve the competitiveness. The firm tries to design next growth strategy with the step of the 3-year plan. The core operating firm, Sanwa Shutter Corporation targets 15.2 billion yen of operating profit with 190 billion yen of sales for the year ending March 2011. The operating firm tries to improve the profitability by reshuffling the business companywide.