Nippon Yakin Kogyo Increases High Function Stainless Product Sales

Nippon Yakin Kogyo announced on Monday the firm expanded the sales rate of high functional stainless steel products to over 38% against total sales in November, which improved by 8 percentage points from March 2008 and reached the target for fiscal 2008 ending March 2009. The firm plans to raise the sales rate finally to 50% until fiscal 2010. Demand for high functional products is expected to increase from environmental industries or nuclear electric power generations.

Mr. Michio Moroka, the president of the high functional products plant, said the firm will establish a new office in London to expand the sales of the products in the world market.

Nippon Yakin Kogyo plans to increase the consolidated total sales to 238 billion yen, the recurring profit to 18 billion yen and net profit to 10.5 billion yen until fiscal 2010. Especially, the firm aims to increase the sales rate of high functional products to 50% and the export rate to over 70%. The final target is to gain the top share for high functional flat stainless steel products in the world.

The firm will enhance marketing power for energy and environmental fields, and build up offshore offices to expand high functional products sales.

The firm’s sales volume of high functional products increased to 24,000 tonnes for April-September and the sales value reached 28.6 billion yen.