The firm expects recurring profit increases to record 70 billion yen for the full year from 13.2 billion yen in fiscal 2003. Previous record was 68.4 billion yen in fiscal 1990. The net profit increases to 47.5 billion yen from 12.5 billion yen and the sales increases to 245 billion yen from 152.1 billion yen. The firm will increase dividend for the year to 20 yen per share from 6 yen.

The selling price increased especially for flat steel in first half under strong demand and short supply both at home and abroad. The official price of hot rolled coil increased by 8,000 yen to 72,000 yen per tonne for November order from April order. Averaged steel selling price increased by 25,000 yen or 57.5% to 66,800 yen in first half from same period of last year.

The firm produced 19.4 million tonnes of semi-finished steel and 18.3 million tonnes of rolled steel in first half. The firm expanded products line by expanding size range of universal plate in July and starting sales of hot rolled plate in October. The steel export was 337,000 tonnes in first half, representing 19% of sales in value.