Slow Demand Suffers Japan Rolled Copper Makers Results

Japanese 3 rolled copper makers out of major 7 posted higher consolidated recurring profit for the half year to September from same period of 2006. They reduced the sales volume with slower demand especially for building applications, semiconductor and terminal connector while they increased the sales with higher copper ingot price. Some of them revised the full year outlook downward while some of them expect better demand for second half. Dowa Holdings’ metal processing unit posted 30% lower operating profit for the first half from same period of 2006. The unit reduced the profit due to higher depreciation after aggressive capital expenditure while the unit increased the sales volume for automotive connector and plating products. Mitsubishi Shindoh posted lower operating profit for the first half from same period of 2006 when the sales volume decreased by 7% for lead frame materials for semiconductor and by 33% for general rolled copper products. Nippon Mining & Metals’ metal manufacturing unit also posted lower operating profit when the phosphor bronze sales decreased. San-Etsu Metals posted lower operating profit for the first half from same period of 2006. Furukawa Electric’s metals unit posted 14% higher operating profit due to higher sales for copper tube for air conditioner and electrolytic copper foil.