Japan Nonferrous Metals to Expand Capital Expenditure by 34% in F2008

Japanese nonferrous metals industry increases the capital expenditure by 34.3% to 310.34 billion yen for fiscal 2008 started April from fiscal 2007, announced by Ministry of Economy, Trade and Industry on Monday. The industry increases the expenditure for smelting, aluminium, rolled copper and electric wire. The smelting sector increases the expenditure by 11.5% to 66 billion yen for fiscal 2008 from fiscal 2007 as previous year. The aluminium rolling industry increases the expenditure by 15.3% to 31.16 billion yen after drop in fiscal 2007. The aluminium industry tries to expand the output capacity despite of the slower growth rate than fiscal 2007. The electric wire and cable industry increases the expenditure by 33.6% to 15.5 billion yen. The industry expands the expenditure for optical fiber by 113.7% to 938 million yen after 10.4% lower in fiscal 2007. The rolled copper industry increases the expenditure by 87.1% to 15.58 billion yen to meet growing demand for automobile.