Sumitomo Electric Industries Ltd
Sumitomo Electric Industries Ltd. (SEI), based in Itami, Japan, continued its strong growth reported for the 1st half of its financial year (2013/2014) with a further increase in sales in the 3rd quarter (ended 31 December, 2013). The company reported a 24.8% increase in sales of all its divisions totalling Yen 649.9 billion ($6.342 billion) compared with the same quarter in 2012. This takes group sales for the nine months to Yen 1.868 billion ($18.232 billion), a rise of 19.5% year-on-year. Operating income (profit) rose by 66% in the first nine months of the current financial year to Yen 77.9 billion ($760.4 million).
SEI’s ‘Industrial Materials & Others’ division, which 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 hardmetals, reported a 10.4% increase in sales in the first nine months to Yen 223.8 billion ($2.185 billion). PM part sales increased by 19.1% to Yen 39.2 billion ($382.7 million) whilst hardmetal sales increased by 15.2% to Yen 60.7 billion ($592.6 million). A.L.M.T. enjoyed a more modest increase of 4.7% % to Yen 31.3 billion ($305.8 million). Special steel wires made up the remaining sales in this division of SEI.
Hitachi Chemicals Co. Ltd.
Hitachi Chemicals Co. Ltd. also reported improved results for its 3rd quarter (October to December) with a 10% rise in sales to Yen 127.1 billion ($1.241 billion) and a 34% rise in operating income to Yen 7.2 billion ($70.3 million) in its ‘Functional Materials’ and ‘Advanced Components & Systems’ divisions. This takes total sales for the first nine months of its current financial year to Yen 370.1 billion ($3.612 billion ), a rise of 9%, and operating income to Yen 21.8 billion ($212.8 million), a rise of 16%.
Hitachi Chemical’s ‘Advanced Components and Systems’ division, which includes PM parts, bearings and sintered friction materials produced in Japan, Thailand, Indonesia, China and North America, plus plastic moulded parts, vehicle and industrial batteries and printed circuit board, saw sales rise by 11% in the 3rd quarter to Yen 60.2 billion ($587.6 million). The increase was attributed mainly to higher demand for friction materials and increased PM part sales in North America. Nine month sales of this division totalled Yen 171.8 billion ($1.677 billion), a rise of 5% year-on-year. Hitachi Chemical is forecasting full year sales for this division to increase by 6% to Yen 233 billion ($2.274 billion).
Mitsubishi Materials Corp. (MMC)
Mitsubishi Materials Corp. (MMC) of Japan reported that group net sales increased by 9.8% to Yen 1,050 billion ($10.252 billion) in the first nine months (April 1 to December 31, 2013) of its current financial year ending March 31, 2014, compared with the same period last year. Operating profit jumped by 28.6% to Yen 51.041 billion ($498.3 million) in the period.
MMCs ‘Advanced Materials & Tools’ division, which includes among a range of other products cemented carbides, PM bearings, and sintered parts, saw sales increase by 6.8% in the 9 month period to Yen 110.2 billion ($1.076 billion), with operating profit up 31.9% to Yen 10.8 billion ($105.4 million).
Mitsubishi Materials announced at the end of January 2014 that a 51% shareholding in its MMC Superalloy Corp. based in Okegawa, Saitama, which operated within the ‘Advanced Materials & Tools’ division, has been transferred to Hitachi Metals Ltd. MMC Superalloy manufactures products such as special copper alloys and special heat-resistant, corrosion-resistant and abrasion-resistant superalloys for the aircraft, industrial gas turbines and automobile sectors. The company will conduct management of MMC Superalloy jointly with Hitachi Metals. Mitsubishi Materials stated that its Advanced Materials & Tools business will in future focus on global automotive demand where it sees the highest growth.