Onamba to Establish Several Core Businesses by F2010

Onamba, Osaka based electric wire and cable manufacturer, announced on Friday a new 3-year management plan toward March 2011 to establish several core businesses, reorganize the global sites and make strategic cooperation with domestic and offshore partners. The firm aims to expand the consolidated sales ratio of solar cell wiring unit to 25% in fiscal 2010 ending March 2011 from estimated 13.8% in fiscal 2007, while increasing the sales of automobile and industry related products and advancing development of new products.Onamba targets to increase its consolidated net sales to 40 billion yen in fiscal 2010 from estimated 32 billion yen in fiscal 2007, the consolidated recurring profit to 2.7 billion yen from 1.5 billion yen and the return on capital employed to 9% from 6% based on the consolidated operating profit. The firm plans capital expenditure at total 2.8 billion yen during fiscal 2008-2010.The firm aims to increase the annual sales of solar cell wiring unit to 10 billion yen in fiscal 2010 from estimated 4.4 billion yen in fiscal 2007. At the same time, the firm plans to increase the sales of wiring harness for automobiles to 3.4 billion yen in fiscal 2010 with the sales ratio at 8.5% in fiscal 2010 from estimated 1.9 billion yen with the sales ratio at 6% in fiscal 2007.Onamba will review business functions of its overseas sites approximately into 3 types; sales, mass production and out-out operation (a local production for a local market) on the base to strengthen its marketing power in 4 areas that are Japan, North America, Europe and China. The firm also seeks to establish strategic cooperation for research, sales and production with domestic and offshore partners.