Japan Steel Works Launches New Growth Plan

Japan Steel Works announced on Monday the firm targets 27 billion yen of consolidated recurring profit for fiscal 2014 under new 3-year plan, which is 80% higher than outlook in fiscal 2012. The firm expects strong demand for industrial machinery covers lower order for steel and energy products and power and nuclear power related products. The firm expects steel related market will recover gradually from second half of fiscal 2013.

The firm targets 27 billion yen of operating profit and 16 billion yen of net profit in fiscal 2014, which is 77.6% and 77.8% higher than outlook in fiscal 2012. The firm expects 11% higher sales at 250 billion yen.

The firm revised former 3-year plan through fiscal 2012 due to the major earthquake and other major changes in market. The firm discloses detailed data at investor presentation on May 18.

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