JS Group Corporation announced on Tuesday the firm launches new company in October to integrate procurement and logistics of the subsidiaries of TOSTEM Corporation and INAX Corporation. The new company named JS Supply Corporation tries to target synergy at 700 million yen from procurement and 1 billion yen from logistics for the year ending March 2011. JS Group targets 5 billion yen of synergy for the year.
JS Group’s president Masahiro Sugino said at press conference on Tuesday the firm tries to clear the target of 50 billion yen of operating profit for the year ending March 2011 through better synergy in the group. The firm seeks more synergy in the group through integration of the functions including accounting, personnel, information technology and maintenance. The new company is the first step to get the further synergy. The group integrates some functions for information technology of TOSTEM and INAX in October and integrates the operating system. JS Supply Corporation with 50 million yen of capital starts the operation with 1,200 of employees. The firm tries to optimize the procurement and logistics of TOSTEM and INAX when the total value is annual 250 billion yen for procurement and 50 billion yen for logistics.Japan Steel Scrap Composite Prices (Sangyo Press)
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