Metal One to Double Profit in 3-Year Plan

Metal One Corporation announced on Friday the firm targets more than 30 billion yen of consolidated net profit for fiscal 2014 ending March 2015, which is twice of fiscal 2011 profit, under the new 3-year plan. The firm plans 50 billion yen of new investment in the 3-year to build stronger domestic business platform and to expand offshore operations. The firm eyes the profit could renew record of 39.9 billion yen in fiscal 2006.

The firm plans 20 billion yen of net profit in fiscal 2012 and 25 billion yen of net profit in fiscal 2013. The firm plans more than 3% of return on assets in fiscal 2014 based on around 1.2 trillion yen of assets while the ROA was 1.3% on 1.109 trillion yen assets in fiscal 2011.

The firm increases the steel trading to 28 million tonnes in fiscal 2014 from 26.2 million tonnes in fiscal 2011. The firm allocates 80% of 50 billion yen of the new investment budget to emerging countries, infrastructure, energy and automobile. The firm targets to generate 60% of the profit from the offshore business.

The net profit decreased to 14.4 billion yen in fiscal 2011 from 18.8 billion yen in fiscal 2010. The firm tries to improve the speed and efficiency of the business to meet changing business condition at higher pace.