Daido Steel announced on Wednesday the firm targets record 45 billion yen of recurring profit for fiscal 2014 ending March 2015 under the new 3-year plan starting fiscal 2012 compared with estimated 30 billion yen in fiscal 2011. The firm tries to focus on hither level of technology while the firm develops new business for company growth and better competitiveness.
The firm targets 580 billion yen of annual sales in fiscal 2014 compared with estimated 480 billion yen in fiscal 2011. The firm targets 23 billion yen of net profit compared with 20 billion yen in fiscal 2011. The assets will increase to 550 billion yen from 506 billion yen during the period. The firm plans 1.47 million tonnes of shipment in fiscal 2014 compared with estimated 1.25 million tonnes in fiscal 2011. The firm expects special steel demand increases especially in emerging countries while the competition condition gets severer in users’ needs and higher production cost. The firm seeks better portfolio and production. The firm tries to be world strongest special steel maker with competitiveness in basic products, original products and new growing business. The firm tries to improve the global supply network through alliances with TIMKEN of USA and Sunflag Iron & Steel of India. Daido Steel targets near 20% of offshore sales or 120 billion yen of total sales compared with around 75 billion yen in fiscal 2011.