Nippon Mining Holdings to Expend 435 billion yen in 3 years

Nippon Mining Holdings announced on Monday the firm will expend 435 billion yen in the new 3-year plan to fiscal 2009 ending March 2010. The firm allocates the 70% or 305 billion yen for better competitiveness, expansion, new businesses and research & development to seek growth. The firm targets 160 billion yen of recurring profit and 90 billion yen of net profit along with more than 40% of equity ratio and less than 1 of debt equity ratio. The firm expends 180 billion yen in 3 years to develop copper mine in Chile and to commercialize bio-mining and other new technology. The firm expands the recycling business through new metal recovering facility at Hitachi plant. The firm also expends 125 billion yen to improve the existing business line. The firm announced the firm tries to increase the recurring profit to more than 250 billion yen in fiscal 2015. The firm tries to improve the portfolio with better risk and return balance. The firm invests around 1 trillion yen from fiscal 2007 to fiscal 2014.