Metal One Posts Higher Net Profit at 32.9 Billion Yen in 2005

Metal One Corporation announced on Thursday that it posted 32.9 billion yen of the consolidated net profit in 2005, increasing by 45% from 2004 and exceeding 20 billion yen of the initially planned. The consolidated net sales were 2.5766 trillion yen, up 13.1% from 2004. Metal One estimates 2.65 trillion yen of the consolidated net sales and 30 billion yen of the net profit for 2006 with the expectation that domestic steel demand would stay firm and the market price be stable this year.Metal One’s consolidated gross profit increased by 4.4% to 128.8 billion yen, the operating profit by 11.2% to 49.5 billion yen and the recurring profit by 12% to 53.2 billion yen in 2005 from 2004.The domestic net sales were 1.85 trillion yen, the offshore sales 400 billion yen and the export 300 billion yen. The domestic gross profit was 89.6 billion yen, the offshore profit 25.5 billion yen, the profit by export 13.2 billion yen and the profit by import was the rest. The export was mainly for China and other Asian countries. The offshore sales were gained mainly in the U.S.A., China and Asian area.The profit increased especially in the business fields of steel plate, steel pipe, building material, steel sheet and steel products for automobile. The profit growth was also firm in North America businesses.