Net Sales Decreases at Tokyo Steel Manufacturing in Apr-Jun

The steel sales volume decreased at Tokyo Steel Manufacturing, Japanese biggest electric furnace steel maker, in April-June 2006 from originally expected, when the firm put the price hike to cover increasing material costs before the sales volume, announced Tokyo Steel on Friday. The net sales is estimated to decrease by 8 billion yen than originally expected for half year to September 2006 and fiscal 2006 ending March 2007, because the sales decreased in the first quarter. The firm kept the profit estimates unchanged with expects that the selling prices would increase by the price improvement in April-June.The firm prospects 106 billion yen of net sales, 24 billion yen of recurring profit and 14 billion yen of net income for the half year ending September 2006. The firm estimates 223 billion yen of net sales, 50 billion yen of recurring profit and 29 billion yen of net income through fiscal 2006.