A Japanese major steel business house, Nittetsu Shoji announced on Friday the 3-year midterm plan from fiscal 2006, the year that ends in March 2007. The firm will accelerate the organic communization of the strategy with a Japanese major steel maker Nippon Steel group. Nittetsu will expand the sales for specific consumers and the export rate and promote investment of 10 billion yen to its new businesses, and increase its employees. The target of the consolidated sales in fiscal 2008 is 1.2 trillion yen, up 110 billion yen from fiscal 2005, and that of the consolidated recurring profit is 13 billion yen, up 1 billion yen and of the net profit is 7 billion yen, up 2 billion yen. Nittetsu aims at increase of the capital adequacy ratio of 15% though the target of the capital adequacy ratio in fiscal 2008 is 10% or more. The target of the debt with interest is 85 billion yen or less from at 93 billion yen in fiscal 2005. The target of the debt equity ratio is twice or less from 3.3 times in fiscal 2005. Seiki Miyamoto, the firm’s president said that the firm will build up its physical strength in the new mid-term plan though the current mid-term plan had to advance the rationalization. Nittetsu will distribute in the business year ending in March for the first time in 13 years, and will construct financial strength being able to stably distribute its products in new mid-term plan.As for the business end, Nittetsu will build up the sales for specific consumers such as automakers though the firm is a good seller to distributors. Nittetsu will invest about 2 billion yen to the renewal of the computing system for the efficiency of the operation. Further, Nittetsu will build up the coil centers in China and Vietnam, and raise the export and import trade ratio against all sales to 25% from current 20%. The firm will advance investment to the development of the resources. The firm will increase the number of its employees by around 10% from current 590 employees with the sales increase to its specific consumers and expansion of its offshore businesses.
Japan Steel Scrap Composite Prices (Sangyo Press)04/08/2020
|19500YEN (-)||21700YEN (-)|
|177.81US$ (0.7)||197.87US$ (0.78)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)