Asahi Pretec Corp Expects Higher Profits in F2008

Kobe based precious metal recycling firm, Asahi Pretec Corporation announced on Friday the firm revised up its final sales and profits target for the 3-year management plan ending March 2009. The firm raised consolidated net sales target to 130 billion yen from originally planned 100 billion yen and operating profit to 12 billion yen from 7.5 billion yen for fiscal 2008 ending March 2009. The firm also raised DOE (dividend on equity) target to 5% from 3.6% at the end of fiscal 2008.Asahi Pretec Corp also announced the firm starts ruthenium recycling business in May 2007. The firm has developed recycling technology to collect pure ruthenium from ruthenium sputtering targets which are used for manufacturing computer magnet discs. The firm applies the technology into commercial business from May 2007.Asahi Pretec Corp has enjoyed favorable sales and profits from precious metal recycling and environmental protection businesses since April 2006 when the firm launched its 3-year management plan. The firm revised up final targets of the 3-year plan twice since April 2006. The firm estimates consolidated net sales would expand to record 93 billion yen in fiscal 2006, which would exceed originally expected 73 billion yen.