Nippon Light Metal Sets Intermediate Holding Company for Extrusion Business

Nippon Light Metal announced on Friday the firm establishes an intermediate holding company for aluminium extruding business on March 1st, 2011. Nippon Light Metal’s seven subsidiaries will transfer their shares to the holding company. Nippon Light Metal aims speedy decision making and effective resource utilizing by management resource integration into the new company. The capital fund is 100 million yen.

The joining seven subsidiaries are Nikkeikin Aluminium Core Technology, Nikkei Extrusions, Riken Light Metal Industrial, Nikkei Kenzai Kogyo, Nikkei Technology Center, Nikkei Niigata, and Nikkei Kambara. The six companies other than Riken Light Metal Industrial are Nippon Light Metal’s 100% subsidiaries. Riken Light Metal Industrial will also become the 100% subsidiary on January 31st.

Nippon Light Metal has promoted cooperation among its aluminium extruding business subsidiaries to strengthen the business competitiveness. The firm supposed the intermediate controlling company is needed in order to advance optimization.

Nippon Light Metal announced on Friday the firm posted consolidated operating profit at 19.621 billion yen for April-December 2010, 10.7 times of the corresponding period of 2009. In October-December, the group sales increased for aluminium foils applied to capacitors and lithium ion batteries as well as aluminium back sheet for solar cells and alumina products. The firm revised up its full-year financial result forecast for fiscal 2010 ending in March 2011 and showed an intention for dividend resumption after 3 years.