Mitsubishi Shindoh Enjoys Result Improvement in CY2010

Mitsubishi Shindoh, Japanese major copper alloy fabricator and Mitsubishi Materials’ subsidiary, announced its non-consolidated net sales increased by 64% to 124.578 billion yen in CY 2010 from 2009. Sales volume increased mainly for copper and copper alloy strips along economic recovery. Higher copper market price also pushed up the sales value. Non-consolidated recurring profit improved to 3.621 billion yen in 2010 from 109 million yen in 2009.

In 2009, market demand for copper alloy products sharply declined along economic deterioration after Lehman Shock. In 2010, demand for copper and copper alloy strips rebounded from automobile and electric appliance industries.

Mitsubishi Shindoh posted non-consolidated operating profit at 3.469 billion yen in 2010, improved by 4.259 billion yen against the loss in previous year. Net profit was 2.177 billion yen, improved by 3.181 billion yen. Both operating profit and net profit turned into black.

The firm decided dividend payment of 30.3 yen per share. This is the first dividend payment since the company integration between previous Mitsubishi Shindoh and Sambo Copper Alloy in April 2008.