Sumitomo Metal Mining reorganizes materials business to integrate energy and catalyst business into materials unit in the year. The firm tries to expand the materials unit into one of the core units as mineral resources unit and smelting & refining unit. The firm improves the profitability of materials unit by focusing the resources into environmental and energy businesses while the firm trims and reshuffles loss making businesses including bonding wire.The president Nobumasa Kemori said at results briefing on Thursday the firm improves the profitability of materials unit by reorganization, restructure, resource allocation for energy and environmental businesses and enhancement of research and development function. The firm already decided withdrawal from bonding wire and reshuffle of lead frame business. Mr. Kemori said the firm expects lead frame business integration with Hitachi Cable generates synergy of Hitachi Cables’ materials and power semiconductor and Sumitomo Metal Mining’s production and sales network. The firm expects business expansion in environmental and energy business areas through battery materials and large sapphire substrate for light emitting diode. The firm tries to utilize technology as nickel maker by entering existing battery supply chain through precursor of the intermediate material. The firm also expands the offshore business for materials. The firm starts operation of Shanghai sales arm in July to integrate the marketing activity in China. The firm also seeks new offshore cooperation activity in advanced materials with existing joint venture partners.
Japan Steel Scrap Composite Prices (Sangyo Press)07/04/2022
|51800YEN (-400)||55400YEN (-400)|
|380.94US$ (-0.11)||407.41US$ (0.08)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)