Japanese major 2 steel wire makers of Tokyo Rope Mfg. and Suzuki Metal Industry posted higher sales for first half of fiscal 2011 started in April compared with the figures in same period of fiscal 2010. Other four firms out of major 6 makers posted lower sales under severe business condition. Sumitomo (SEI) Steel Wire posted recurring loss and Suzuki Metal Industry, Suncall Corporation, Shinko Wire and Nichia Steel Works posted lower recurring profits while Tokyo Rope Mfg. posted higher profit.
Tokyo Rope Mfg. secured net profit for the first half compared with loss in same period of fiscal 2010. Shinko Wire posted higher net profit while Suzuki Metal Industry and Suncall Corporation posted lower net profit and Sumitomo (SEI) Steel Wire and Nichia Steel Works posted net loss. Many of them reduced the profit due to impact by the major earthquake, historical high yen exchange rate and slower selling price increase. Tokyo Rope Mfg reported the impact by the quake was smaller than expected. However, the firm revised the full year operating and recurring profits target downward. Sumitomo (SEI) Steel Wire posted wider losses in the first half than same period of fiscal 2010 due to the impact by the quake. Suncall Corporation’s profit decreased in first half of fiscal 2011 from same period of fiscal 2010. The sales significantly decreased in April-June due to the impact on automobile demand by the quake. Shinko Wire posted lower sales and profits in first half of fiscal 2011 compared with the figures in same period of fiscal 2010. The prestressed concrete wire sales decreased for public works despite higher sales for private work.
