Mixed Results by Japan Major 4 Light Metal Rerollers

Japanese 3 major light metal rerollers posted net loss for April-December 2009 while Kobe Steel’s unit secured profit. The lower demand impacted on the results along with restructuring charge. They expect better results for full year fiscal 2009 compared with the results in the 9 months when the sales volume improving since October.

Nippon Light Metal posted higher operating profit and lower net loss for the 9 months from same period of 2008. The operating loss decreased by around 3 billion yen for construction materials unit while the restructuring contributed to the better results.

Kobe Steel’s aluminium and copper unit improved the operating results by around 12 billion yen for the 9 months from same period of 2008. The higher demand for aluminium for environmental friendly vehicle contributed to the profit along with cost cutting effort.

Sumitomo Light Metal Industries posted restructuring charges including impairment loss for production facilities in the 9 months. The firm posted higher net loss at around 8.1 billion yen while the firm secured marginal operating and recurring profit by reducing cost.

Furukawa-Sky Aluminum reported 16% lower sales volume in April-December 2009 from same period of 2008. The firm posted onetime loss for restructuring of flat products while the sales volume improved since October and the cost cutting effort improved the profitability.