Shinsho Corporation, the metal products trading house of Kobe Steel group, aims 213.5 billion yen of consolidated net sales and 2.7 billion yen of operating profit for its nonferrous metals business unit in fiscal 2008 ending March 2009, the last year of its mid-term management plan called “GROW UP 2008.” The sales are estimated to increase by 48.8% in fiscal 2008 from fiscal 2005 and the profit by 45.5%, both of which are expected to grow more than the iron & steel unit. Tsuguto Moriwaki, president of Shinsho Corp, said he expected the large growth of the nonferrous metals unit as the centerpiece of the 3-year management plan.Shinsho Corp targets globalization of the nonferrous metals business including active business operation and capital investment at overseas, reinforcement of the overseas branch offices, sales expansion for new products and enlargement of the service areas worldwide. The firm already made Philippine branch office the local subsidiary in January 2006 and established Hungarian branch office in April 2006 along the strategy to expand overseas nonferrous metals business. Shinsho Corp also strengthens the cooperation with Kobe Steel, the parent company. Mr. Moriwaki said the business interaction is important between Shinsho Corp and Kobe Steel’s aluminium & copper business unit. Shinsho Corp will increase the sales power more by the cooperation within Kobe Steel group. Shinsho Corp also plays a role to gather local business information in foreign countries for the group, for example, the firm established a coil center to deal and manufacture only aluminium products which was the first one in China.
Japan Steel Scrap Composite Prices (Sangyo Press)12/08/2023
|49900YEN (-)||51400YEN (-)|
|345.93US$ (9.15)||356.33US$ (9.43)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)