Shinagawa fiscal year profits rise 39% due to strong steel demand in Japan

By Liz Gyekye
Published: Thursday, 06 August 2015

The Japanese company has dodged the bullet that has hit other refractories producers who rely on the steel market, posting solid fiscal year results. There is strong domestic demand for its products, as the steel sector picks up in Japan, due to the forthcoming 2020 Tokyo Olympics. The firm has also been helped by reconstruction activity following the country’s earthquake of 2011.

Japan’s largest refractories producer, Shinagawa Refractories Co. Ltd, has posted a 39% jump in net profits to Japanese yen (JPY) 3.09m ($24.8m*) for the fiscal year ended March 2015, helped by strong domestic demand for its products on the back of a steady steel market.

Net sales...

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