Japan Major 6 Electric Cable Makers Posted Mixed Results

Japanese major 6 electric cable makers reported mixed financial results for April-June when 2 makers posted lower consolidated recurring profit from same period of 2006 while a maker reduced the recurring loss. The mixed results depended on non-electric cable businesses including automotive parts and information and communication. The all 6 makers reported higher profit for electric cable business. Sumitomo Electric Industries increased the operating profit by 58.7% to 15.081 billion yen for automotive parts in April-June from same period of 2006. Sumitomo Electric posted operating loss for information and communication as Furukawa Electric and Fujikura posted lower operating profit by 64.3% and 15.8% respectively. SWCC Showa Holdings increased the operating profit to 2.4 times at 1.195 billion yen for electric cable in April-June from same period of 2006. Sumitomo Electric posted 2.2 times of operating profit at 1.8 billion yen for electric cable and Hitachi Cable increased the profit to 1.6 times at 2.5 billion yen.