Daido Special Metal Aims 50% Recurring Profit Up by CY2014

Daido Special Metal (DSM), a joint sales company between Japanese major special steel maker, Daido Steel, and American high alloy products dealer, Special Metals Corporation (SMC), targets to increase the net sales by 21% to 21 billion yen and the recurring profit by 56% to 400 million yen in CY2014 compared with CY2011. DSM aims to build up strategic alliances with Daido Steel as well as with SMC’s parent company, Precision Cast parts Corporation (PCC), and to expand the sales volume of unique special steel products. DSM strengths earning capacity of core businesses.

DSM will review the product mix, formulate the supply network at overseas and develop new markets related to energy or airplane industries along with its new mid-term management plan for F2012-2014. DSM’s current major sales item is lead frame material of 42% nickel alloy. Mr. Noriaki Kasahara, president of DSM, said DSM would increase the sales of Daido Steel’s forging products and PCC’s large size high alloy products.