Two of Japan’s leading conglomerates, each of which has extensive PM part, cemented carbide and diamond tool operations, recently reported group financial results for the 3rd quarter ended 31 December, 2010. Most of Japan’s companies work on a financial year which ends March 31.
Mitsubishi Materials Corp.
Mitsubishi Materials Corp. (MMC) reported net sales of Yen 989,158m (US$11,769m), an increase of 28.6% over the same 9 month period in 2009. Net income was put at Yen 20,784m ($247m). MMC is forecasting an increase of 18.8% for the full year to Yen 1,330,000m ($15,823m).
The Advanced Materials & Tools business segment, which includes PM parts produced at the Diamet subsidiaries, cemented carbides, and diamond tools, contributed Yen 106,700m ($1,269m) in sales, an increase of 57.5% thanks mainly to the recovery in automotive and aerospace related markets.
MMC reported that at the end of 2009 three companies involved in the manufacture and sale of sintered parts – Diamet Corp., Diamet Klang (Malaysia), and PM Techno Corp, were upgraded to consolidated subsidiaries.
Sumitomo Electric Industries Ltd
Sumitomo Electric Industries Ltd (SEI) achieved sales of Yen 1,478,013m ($17,585m) in the 9 months to December 31, 2010, an increase of 15.2% over the same period in 2009. Net income was put at Yen 62,022m ($738m).
The ‘Industrial Materials & Others’ division is one of six business segments at SEI and includes the production of cemented carbides (hardmetals), PM parts, and the fully owned A.L.M.T. subsidiary which produces W, Mo, heavy metal, thermal management materials, ceramics, diamond tools and carbides.
PM part sales at SEI increased by 40.4% to Yen 28,800m ($342m) in the 9 months to December 31 whilst cemented carbide sales increased by 50.8% to reach Yen 44,800m ($553m). A.L.M.T. contributed Yen 30,100m ($358m) to sales for the period.