GS Yuasa Targets 12 billion yen of Recurring Profit in F2008

GS Yuasa Corporation announced on Friday the firm targets 13 billion yen of operating profit and 12 billion yen of recurring profit with 260 billion yen of sales in fiscal 2008 ending March 2009 under the new 3-year plan. The firm tries to realize 5% operating profit and 4.6% recurring profit for sales by synergy after the firm cleared the targets for former 3-year plan of integration ahead of the original schedule. The firm also tries to establish lead recycling system. The firm started the operation in April 2004 by integrating YUASA Corporation and Japan Storage Battery. The new firm posted big loss for the first year due to unfavorable conditions including surging lead ingot price. The firm launched restructuring plan to improve the efficiency and profitability. The firm cleared the 3-year target in fiscal 2005 a year ahead of schedule. The firm launched the corporate philosophy, innovation and growth of employees and the firm. The firm also tries to improve corporate social responsibility and reduce cost across the group along with establishment of lead recycling system for better environment. The firm tries to improve profitability for domestic automotive battery business by increasing selling price and expanding the market share. The firm launches special project teams to improve marketing in China and Asian market, to establish profitability for industrial battery business and to expand large lithium ion battery business.