Japan Rare Metal Firms Post Higher Profit for 1H

Japanese rare metal relating companies improve the profitability. The major 4 firms including ALCONIX, Nippon Tungsten, Toho Kinzoku and Nihon Seiko reported higher sales and profit for the first half year to September from same period of 2005, according their results announced by Wednesday. They improved the profitability by passing higher cost price on the selling price under firm demand for automobile and electronics industries despite of the higher raw materials prices when the largest rare metal producing country of China increases the demand and tries to reduce the export.

ALCONIX reported on Wednesday the consolidated operating profit tripled to 791 million yen for electronic and functional materials for the first half from same period of 2005. The firm gained from higher prices and trading volume for tungsten, molybdenum and rare earth along with higher titanium price.

Toho Kinzoku announced on Wednesday the recurring profit increased by 53.4% for the first half from same period of 2005. The firm increased the sales by 15.6% for tungsten products including rhenium tungsten and tungsten bar.

Nippon Tungsten reported the consolidated recurring profit increased by 31.5% for the first half from same period of 2005. The firm posted 24% higher operating profit for powder metal unit under firm demand for points of industrial electric machine and breaker, electrode of automobile welding and tungsten wire for office automation equipments.

Nihon Seiko covered higher antimony ingot price by increasing selling price and volume in the first half from same period of 2005. The firm increased the sales for commodity grade antimony trioxide and sodium antimonate.