JX Holdings Plans 960B Yen Investment and Loan Funds for F2010-2012

JX Holdings announced on Monday the firm sets investment and loan funds of total 960 billion yen for 3 years ending in March 2013 along its new mid-term management plan. Approximately 300 billion yen is applied to each business field of metals, petroleum refining and oil development while about 40 billion yen is invested for other listed subsidiaries. JX Holdings targets the consolidated annual recurring profit at more than 300 billion yen and ROE (Return on Equity) at above 10% in fiscal 2012 ending in March 2013.

In the metals business field, about 200 billion yen will be invested for the raw materials business. The firm aims to raise the procurement rate of copper ores supplied from the investing mines to above 60% by development of offshore copper mines including Chile’s Caserones mine and Peru’s Quechua mine. The firm also accelerates development of new smelting methods to utilize low grade ores and expands the own interests in offshore mines.

For the environment and recycling business field, the firm tries to increase gold recycling volume to 9 tonnes per year in fiscal 2012 from 6.3 tonnes in fiscal 2009. As to the electronic materials business unit, the firm aims to increase the sales of rolled copper foils to 5,000 kilometers per month in fiscal 2012 from 2,700 km in fiscal 2009. The firm also plans to expand polycrystalline silicon production for solar cells to 4,500 tonnes per year during fiscal 2010-2012.

JX Holdings estimates the consolidated net sales at 9.16 trillion yen for fiscal 2010 with the operating profit at 170 billion yen, the recurring profit at 220 billion yen and the net profit at 270 billion yen.