Fuji Sash and Bunka Shutter Get Losses in 1H with Sluggish Construction Market

Fuji Sash and Bunka Shutter announced their half-year financial results for April-September 2009 on Wednesday. Fuji Sash posted consolidated net loss at 2.6 billion yen. The firm posted net loss for 5 straight terms. Bunka Shutter was suffered from consolidated operating loss, recurring loss and net loss. The firm posted losses for 2 terms in a row. Both companies’ sales and profits were impacted by stagnant construction market.

Fuji Sash recovered operating profit for the housing material business unit thanks to cost reduction measures. However, the building material business unit posted operating loss at over 800 million yen for April-September. The profitability is unlikely to improve in a short term due to few orders and severe price competition.

Bunka Shutter posted operating losses in the all business units for April-September. Demand for middle- and heavy-size shutters maintained stagnant and domestic new housing starts significantly decreased.

Both companies aim to regain operating and recurring profits for a full fiscal year ending in March 2010 by progress of cost reduction measures.