Fuji Kosan Achieves Earnings Target in 1st Year of Management Plan

Osaka based special scrap dealer, Fuji Kosan posted 3.686 billion yen sales with 176 million yen recurring profit for fiscal ended June, which were more than expected the earnings target under 5 years mid term management plan.

Fuji Kosan filed for court protection in March of 2010 and the firm made the management plan, which targeted 3.4 billion yen sales with 160 million yen recurring profit for fiscal ending in June 2015.

The firms’ sales were high at 270 million yen in January and 300 million yen in February. The firm achieved a target in fist fiscal year of the management plan due to cemented carbide scrap export mainly for China, sales increase of scrap from lithium-ion battery, nickel hydride battery and neodymium magnet.

The firm tries to increase the scrap export for Indonesia, Vietnam and Malaysia to add China, South Korea and Taiwan.