Mitsubishi Materials to Invest 275 Billion yen in 3-Year

Mitsubishi Materials announced on Tuesday the firm plans 275 billion yen of investment in 3 years through fiscal 2013 ending March 2014 under new 30yera plan. The firm invests 142 billion yen for new business, expansion and modernization. The firm targets 510 billion yen of offshore sales in fiscal 2013 compared with 393.8 billion yen in fiscal 2010 through 86 billion yen of investment in 3 years. The firm targets 110 billion yen of consolidated recurring profit in fiscal 2013 compared with 56.4 billion yen in fiscal 2010.

The firm plans 86 billion yen of investment for copper business in 3 years. The firm tries to increase the captive ore through new exploration projects along with better productivity in existing mines. The firm improves the profitability of copper smelting business through cost reduction and higher recycled materials utilization. The firm also improves the value chain through cooperation with Mitsubishi Shindoh and Mitsubishi Cable Industries.

Mitsubishi Materials expands the offshore business based on Indonesian smelting plant. The firm also expands the rolled copper sales in emerging countries. Through the series of efforts, the firm targets 48.5 billion yen of recurring profit for fiscal 2013 compared with 43.2 billion yen in fiscal 2010.

The firm targets 6% of recurring profit on sales in fiscal 2013 compared with 3.1% in fiscal 2010. The firm also plans less than 1.5 of net debt equity ratio in fiscal 2013 compared with 2.0 in fiscal 2010.