Japan Rare Metals Companies Post Firm Results

Japanese 3 rare metal companies of major 5 posted higher operating profit for the half year to September from same period of 2006 under higher price and firm demand. Firm demand supported their profit while some firms expect slow down for the market. Asahi Pretec Corp., which is recycling precious metals and rare metals from electronic materials and jewelry, expanded the recycling volume under higher market price in the first half from same period of 2006. ALCONIX Corporation’s electronic and advanced materials unit, Advanced Material Japan Corporation enjoyed firm demand for titanium, semiconductor materials, battery materials and liquid crystal materials in the first half. Advanced Material Japan expects slower second half operation when the firm forecasts rare metal market declines. Toho Kinzoku posted 17% higher operating profit for the first half from same period of 2006 with higher sales for molybdenum processed products. However, the firm expects lower profit for the full year due to price competition for materials of flat panel television. Nippon Tungsten posted 24% lower operating profit for the first half from same period of 2006 due to higher raw materials cost and higher depreciation. The firm expects higher profit for the full year through higher sales and better profitability effort. Nihon Seiko reduced the profit for antimony business for the first half from same period of 2006 due to lower sale volume for commodity grade products. The firm expects the full year profit increases from previous year. Furuya Metal enjoyed firm demand for iridium products and processed platinum products in July-September along with the firm demand for ruthenium target and gold target materials. The firm expects higher profit for the full year to June 2008.