|  | 30/08/2004 |
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Showa Electric Wire & Cable Targets 3.7 billion yen of Profit in 2006
Showa Electric Wire & Cable announced on Friday it targets 3.7 billion yen of recurring profit in fiscal 2006 ending March 2007 under 7th mid-term business plan ending started fiscal 2004. The firm targets 2.5% of return on assets and 5.3 billion yen of operating profit with 126 billion yen of sales in the final year. The firm focuses resources into 4 growing units while it restructures operations and products for core businesses of metals and optical communications. The firm also strengthens Chinese business. The firm regained profitability and reduced interest-bearing debt significantly in fiscal 2003 under 6th mid-term plan started fiscal 2002. The firm seeks shifting to growth strategy under the new plan though previous 3-year plan didn’t finish original term.
The firm focuses resources into 4 growth units of precision devices including heat roller, vibration control system including seismic isolator, wire harness and compact termination devices for electricity. The firm tries to increase operating profit to 2.4 times at 1.7 billion yen with 35% higher sales at 23 billion yen in fiscal 2006 compared with fiscal 2003 by developing new products and expanding Chinese production.
The firm expands Chinese production of wire harness, electric wire, heat roller and coiled wire for Japanese transplants. The firm also strengthens cooperation with Chinese communication cable maker, Futong Group to expand metal and optical cable for Chinese telecommunication companies.
 Showa Electric Wire & Cable |
 | Showa Electric Wire & Cable Targets 3.7 billion yen of Profit in 2006
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