Japanese Special Steel Makers’ Sales Hit Record High

Japanese 6 special steel makers, Hitachi Metals, Daido Steel, Aichi Steel, Sanyo Special Steel, Mitsubishi Steel Mfg and Nippon Koshuha Steel, hit the record of the consolidated sales in the business year ended in March 2008 due to good situation of automobile output or their selling price hike with increased material price. Hitachi Metals, Daido Steel, Mitsubishi Steel Mfg and Nippon Koshuha Steel hit the record of the consolidated recurring profit while Aichi Steel and Sanyo Special Steel reduced the consolidated recurring profit over the previous year due to increased ferrous scrap and ferroalloy price. The 6 makers are expected to increase consolidate sales thanks to firm demand for automobiles. The 3 makers expect to increase the recurring profit in the business year ending in March 2009 while other 3 makers expect to decrease the profit.