Only Sumitomo Electric Industries will post consolidated net profit for fiscal 2011 ending March 2012 among Japanese major 5 electric wire makers. Other 4 makers revised the outlook downward due to slow electronics demand, Thai flood and historical high yen rate along with levy of cartel. The five makers try to secure recurring profit for the full year.
Sumitomo Electric Industries secured the profit in July-September and October-December while the firm posted operating loss in April-June due to very slow automobile demand. The firm will secure net profit for fiscal 2011. The firm posted 7.8 billion yen of operating loss for information and communication unit in April-December. Furukawa Electric posted 2.9 billion yen of operating profit for telecommunication unit in April-December, which was 55% lower than same period of fiscal 2010. Fujikura posted 5.4 billion yen of operating profit for telecommunication in April-December, which was 41% lower than same period of fiscal 2010. SWCC Showa Holdings posted 400 million yen of operating loss for communication for April-December, which was 1.1 billion yen lower than same period of fiscal 2010. Hitachi Cable revised the full year outlook downward due to slow demand for electronics business. Thai flood also impacts on their business. Fujikura, which focuses the electronic parts business in Thailand, will post 9 billion yen of onetime charge. The firm expects the flood reduces the operating profit by 5.5 billion yen. Furukawa Electric increased the impact from 5 billion yen to 5.6 billion yen.