Japanese Stainless Makers Increases Sales and Profit

Japanese 5 stainless steel makers increased consolidated sales, recurring profit and net profit for the half year ending September 2007 compared to the same period of last year when they passed increased material price on the selling price. 4 makers except Takasago Tekko reached the record of sales, recurring profit and net profit.Nippon Yakin Kogyo’ recurring profit and net profit doubled. The firm increased the sales of high corrosion and heat-resistant stainless steel. Nippon Kinzoku’ sales increased by 38.8% due to the expansion of high valued products sales.Nippon Steel & Sumikin Stainless Steel (NSSC) increased the recurring profit by 13.0%. Nippon Metal Industry increased the profit by 10.4%. Nippon Yakin Kogyo increased the profit by 15.3%. Nippon Kinzoku increased the profit by 7.0%. Takasago Tekko increased the profit by 3.5%.NSSC decreased the shipment to 495,000 tonnes by 3.1%. Nippon Kinzoku Kogyo reduced the shipment to 166,000 tonnes by 14.5%. Each maker decreased the shipment of general stainless steel products for domestic market while increased the shipment of high valued products and export.In the last half of fiscal 2007, their profit may be influenced the reduction of the production and conservative purchase of users due to anticipation of steel products price fall with lower nickel price. 4 makers except NSSC expect increased revenue and profit for the closing accounts in March 2008.