NEOMAX to Expend Neodymium Magnet Output

Japanese major neodymium magnet maker, NEOMAX announced on Wednesday the firm targets world strongest magnet company under the 3-year plan starting April 2006. The firm focuses the resources on the neodymium magnet for electronics, named NEOMAX and high functional hard ferrite magnet. The firm expends 21.5 billion yen for the 3 years to expand the output capacity and to improve the quality. The firm tries to increase the profit by 45.8% to 17.5 billion yen for consolidated recurring profit and by 66.6% to 10 billion yen for net profit with 10.6% higher sales at 125 billion yen for fiscal 2008 ending March 2009 compared with estimated figures for fiscal 2005. The firm will increase the sales of new products to 28% of the total sales and the offshore sales to 50%. The firm expands the output capacity for neodymium magnet and improves the performance of the products and domestic productivity for hard ferrite magnet. The firm also applies the precise processing technology, which the firm developed in ceramic substrate for magnetic head, for the semiconductor business while the firm also tries to expand clad metal products for the alloys for electronic industry unit.The firm targets electronics industry including hard disc drive, optical disc drive, crystal liquid, semiconductor and factory automation, energy and environmental business including rechargeable battery, solar battery and compressor motor, automobile including hybrid car, electric power steering, air conditioner and electric components and medical equipments including permanent magnetic resonance imaging and small MRI as strategic business areas.