Japanese nonferrous producer Dowa Holdings expects its net total for FY2020 (ending March 31, 2021) to increase by 16pc to JPY563.3bn ($5.37bn) from JPY485.1bn in FY2019.
The company has forecasted net sales of its non-ferrous metals division to be JPY263.6bn in FY2020 compared to JPY227.2bn in FY2019. It also expects net sales for its metal processing division to reach JPY75.5bn in FY2020, compared to JPY82.3bn in FY2019.
The Japanese firm’s net sales in Q3 FY2020 rose by 14pc to JPY 403.5bn from JPY352.7bn in Q3 FY2019. The non-ferrous division’s sales tallied at JPY193.3bn compared to JPY164.6bn in Q3 FY2019. The metal processing division posted net sales of JPY53.1bn compared to JPY61.8bn during the same quarter in FY2019.
Dowa Holdings has projected a 21pc increase in its operating income to JPY31.3bn in FY2020 from JPY25.9bn FY2019. In Q3 FY2020, its earnings rose by 35pc to JPY23.7bn from JPY17.6bn in Q3 FY2019.
($1 = JPY104.71)