Japan Major Rolled Copper Makers Post Better Results in F2010

Japanese major 6 rolled copper makers reported higher sales for fiscal 2010 ended March 2011 than fiscal 2009. Five makers posted higher operating profit due to higher demand for semiconductor, electronics and building along with higher copper price. However, three makers expect lower profit for fiscal 2011 while 2 makers failed to disclose the profit target.

Furukawa Electric’s metals unit posted 3.2 billion yen of operating profit in fiscal 2010 compared with 2.2 billion yen of loss in fiscal 2009. The firm enjoyed higher demand for copper strip and tube.

Sumitomo Light Metal Industries’ rolled copper unit posted 328 million yen of operating profit in fiscal 2010 compared with 224 million yen of loss in fiscal 2009. The firm expects 1.2 billion yen of profit for fiscal 2011.

Dowa Holdings’ metal processing unit posted 5.4 billion yen of operating profit for fiscal 2010, which was 69% higher than fiscal 2009 due to higher sales for automobile and information technology industry.

Major 3 brass bar makers gained from higher demand for housing renovation in fiscal 2010. Kitz Corporation reported the sales volume increased by 21% to record 79,904 tonnes in fiscal 2010 from fiscal 2009.