YAMAKIN (JAPAN) Posts Lower Profit in F2007

YAMAKIN (JAPAN), a Japanese major dealer of nonferrous metal products, announced on 27 June the firm posted the consolidated recurring profit at 107 million yen for fiscal 2007 ended March 2008, down by 86% year-on-year. The profit widely decreased at Thai subsidiary impacted by the rough fluctuation of copper price. The consolidated revenue of YAMAKIN (JAPAN) was 39.6 billion yen for fiscal 2007, down by 14% from fiscal 2006.The non-consolidated revenue was 34 billion yen and the non-consolidated recurring profit was 672 million yen for fiscal 2007. The revenue decreased by 19% year-on-year while the recurring profit increased by 10%. The total dealing volume decreased by 31% to 52,295 tonnes through fiscal 2007 from fiscal 2006. The dealing volume of aluminium related products was 32,341 tonnes, decreasing by 41% year-on-year.Dai-ichi Kinzoku, Tokyo based subsidiary to deal mainly nonferrous metal scrap, posted the sale at 1 billion yen and the recurring profit at 39 million yen for fiscal 2007. The sale downed by 37% year-on-year while the recurring profit declined by 2%. The annual dealing volume decreased by 2% year-on-year to 6,538 tonnes due to the decrease of printing board scrap.Thai subsidiary to manufacture leadframes and other metal products, YAMAKIN (THAILAND) posted the sale at 4.6 billion yen for fiscal 2007, increasing by 47% year-on-year. However, the subsidiary posted the recurring loss at 444 million yen impacted by the rough fluctuation of copper price, the stronger baht exchange against Japanese yen and the slow demand for leadframes.SHANGHAI YAMAZAKI KINZOKU, Chinese subsidiary posted the sale at 1.6 billion yen for fiscal 2007, increasing by 99% from fiscal 2006, while the recurring profit at 8 million yen, decreasing by 58%.