Japan 2 Ti Sponge Makers Post Low Profits for Apr-Jun

Japanese 2 titanium sponge makers were suffered from low profits in the first quarter of fiscal 2009 (April-June 2009). Toho Titanium posted operating loss at 412 million yen. Osaka Titanium Technologies posted year-to-year lower operating profit. Their titanium sponge sales decreased along the sharp demand decline.

Toho Titanium posted 3.41 billion yen revenue for the titanium business unit including titanium sponge and ingot, 57.4% year-to-year minus, with 256 million yen operating loss, though the firm gained 2.67 billion yen profit from the business in the corresponding period of 2008.

Titanium sales widely decreased for airplanes and general industries when delivery of new airplanes, Boeing787, was much delayed and plant construction declined along global economy downturn.

Osaka Titanium Technologies posted 4.94 billion yen revenue for the titanium business unit, 50.3% year-to-year minus, and 3.34 billion yen revenue for the other businesses including polycrystalline silicon, 15.4% year-to-year minus. Titanium sponge sales shrank for titanium re-rollers and steel additives. The sales price of polycrystalline silicon turned downward along the demand decline from semiconductors.