Japan Smelters’ Electro-Material Units to Post Loss for F2008

The electronic materials segment of Sumitomo Metal Mining, Mitsui Mining & Smelting estimate to post consolidated operating loss and Nippon Mining Holdings estimates to post consolidated recurring loss for fiscal 2008 ending March 2009 when the material demand is decreasing for automobile, liquid crystal and semiconductor along with inventory valuation loss for lower priced metals.

Sumitomo Metal Mining estimates to post 9.1 billion yen of consolidated operating loss from electronic material sector for fiscal 2008 while the firm estimated to post 3.3 billion yen of operation profit, announced in October 2008. The shipment of the main product of two-layered copper substrate for integrated circuit in liquid crystal decreased since the autumn 2008.

Mitsui Mining & Smelting estimates to post 12.1 billion yen of consolidated operating loss for fiscal 2008 compared with estimated 12.0 billion yen of operation profit as of November. The electrolytic copper foil output decreased to 4,000 tonnes in October-December from 8,000 tonnes in July-September and 10,000 tonnes in April-June. The order receipt of tape automated bonding and chip on film, which used for integrated circuit bonding decreased by almost half in October-December compared with April-June.

Nippon Mining Holdings estimates to post 14.5 billion yen of consolidated recurring loss for the fiscal 2008 when the electrolytic and rolled copper foil and sputtering target material shipment plunged down in October-December and indium tin oxide target material price dropped.