Kitz Targets 30 billion yen Higher Sales in F2010

Japanese major valve and copper fabricated products maker, Kitz Corporation announced on Thursday the firm expands the consolidated sales by around 30 billion yen to 180 billion yen in 4 years under the business plan started fiscal 2007. The firm tries to become world top 3 valve maker through sales expansion in high growth markets including energy industry. The firm also increases the sales volume of rolled copper products by expanding synergy in the group. The firm creates 25 billion yen of new business in valve and copper products units. The firm increases the sales to 180 billion yen in fiscal 2010 from 153 billion yen in fiscal 2007 and 149.5 billion yen in fiscal 2006. The firm tries to increase the operating profit to 18.5 billion yen in fiscal 2010 from 11.3 billion yen in fiscal 2006 and increase the recurring profit to 17.5 billion yen from 10.6 billion yen. The firm focuses on expansion of the business while the firm expects return on assets decreases from 21.4% to 13% and the cash return on assets drops from 12 to 10%. The firm tries to expand the valve business targeting energy, water and environmental and semiconductor industries. The firm improves the value on the products including quick attaching joints. The firm expects the valve sales increases to 121 billion yen in fiscal 2010 from 99.2 billion yen in fiscal 2006. The firm also expands the rolled copper business through better tie-up with group companies. The firm will increase the copper products sales to 45 billion yen in fiscal 2010 from 41.8 billion yen in fiscal 2006.