Shinsho Corp to Expand Sales and Profit by 14% in F2008

Shinsho Corporation announced its new 3-year management plan, named “GROW UP 2008″to fiscal 2008 ending March 2009 on Wednesday, which is the sales company of Kobe Steel group dealing Kobe Steel’s ferrous and non-ferrous metal products, raw materials and welding products. Shinsho Corp aims to increase its consolidated net sales by 14% to 670 billion yen in fiscal 2008 from fiscal 2005, the operating profit by 14% to 8.7 billion yen, the recurring profit by 13% to 7.7 billion yen and the net profit by 43% to 4 billion yen. The firm focuses on iron & steel and non-ferrous metals businesses, especially increasing the sales by 5.5% for iron & steel business and by 49.3% for non-ferrous metals.The firm aims to increase its equity capital to more than 23 billion yen in fiscal 2008 from 14 billion yen in fiscal 2005 and to reduce the interest bearing debt to less than 47 billion yen from 50.5 billion yen. The firm reduces debt equity ratio to less than 2.0 in fiscal 2008 from 3.6 in fiscal 2005. The firm also aims to increase its capital-to-asset ratio to more than 10% in fiscal 2008 from 7.1% in fiscal 2005 when its total assets would increase to 216 billion yen from 197.8 billion yen. Total employees will increase by 40 to 930 people, increasing mainly at overseas sales bases.