|  | 02/08/2004 |
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Akita Zinc to Reduce Zinc Processing Expense by 5%
Akita Zinc Co., Ltd., the Japanese major zinc smelter, reduced the zinc trust processing expense this April by 5% over fiscal 2002. The firm has already carried out 5% of reduction in fiscal 2003, and it becomes 10% of reduction as a total. The firm is inclined to cover the reductions of the processing expense through cuts in costs, and the profit conditions will be strengthened. By the end of fiscal 2005 that is the last fiscal year of the mid-term management planning for 3 years, the firm will tackle reductions of costs and strengthen the quality of business entity further, and will reduce processing expense by 15-20%. The quantity of production of the firm in fiscal 2003 decreased by 1,800 tonnes because the trouble of a boiler in the first half of fiscal 2003. However, the firm picked up in the second half of fiscal 2003 and secured the planned quantity at 200,000 tonnes per year in fiscal 2003. The prospect that sales and profit exceed the planning in the business performance for recovery of the market prices in London Metal Exchange and the weak yen. For these reasons, the firm lowered the processing expense by 1,500 yen from July 2003 continuously from this January, reducing 500 yen, and the firm reduced the total costs by 2,000 yen by 5% over fiscal 2002. the firm covered the processing expense's reduction by the cost cut, and the profit and loss in fiscal 2003 was balanced. In the mid-term management planning, the firm has advanced the cost cut at 1 billion yen for three years from fiscal 2003 to fiscal 2005. Among these years, firm aimed at 600 million yen in fiscal 2003, and the target was almost hit.
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 | Akita Zinc to Reduce Zinc Processing Expense by 5%
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