31 OCTOBER 2012Platts
Japan aluminum diecaster Aisin's H1 sales surge 27%
Edited by : AL CIRCLE
2 min read
Japan's largest aluminum diecaster Aisin Seiki Wednesday posted consolidated sales revenue of Yen 1.3 billion ($16 million) for the six months to September 30, up 27.1% year on year.
The company kept its full year sales forecast unchanged at Yen 2.5 billion, but revised down its full year net profit forecast.
Aisin's April-September sales rose as Japanese automakers increased production, particularly at overseas plants, a company spokesman said.
Toyota Motor, which accounted for 66.2% of Aisin's April-September sales, produced 2.6 million passenger vehicles at overseas plants in the period, up 38.1% year on year.
However, a recent spike in geopolitical tension between Japan and China has slowed sales of Japanese cars in China, and this is likely to affect Aisin's earnings in the second half of its fiscal year to March 31, 2013.
Aisin forecast full year sales at Yen 2.5 billion, up 8.5% year on year, in line with a forecast published in April, and net profit at Yen 64 million, down from Yen 67 million in the earlier forecast.
Aisin's net profit for the fiscal year ended March 31 was Yen 55.4 billion, and net consolidated sales Yen 23 billion.
"We are seeing a mixed trend. Our performance is rising in North America, but there may be decreases in Asia," the spokesman said.
Aisin's output of aluminum diecast products is typically over 4,000 mt/month at its Japanese plants, according to local trade sources.
Separately, Keihin, a diecaster affiliated with the Honda Motor group, Wednesday posted Yen 144 billion consolidated sales revenue for April-September, up 26% year on year. Its net profit surged 818% to Yen 1.8 billion due to a recovery after the east Japan earthquake and floods in Thailand, a company spokesman said.
However, Keihin has revised down its full year earnings forecast in response to a reduction in Honda car sales in China.
Full year sales are now seen at Yen 290 billion, down from an earlier projection of Yen 294 billion, and net profit at Yen 5.3 billion, down from Yen 5.7 billion.
In the fiscal year to March 31, the company posted consolidated sales revenue of Yen 259 billion and net profit of Yen 4.2 billion.
The company kept its full year sales forecast unchanged at Yen 2.5 billion, but revised down its full year net profit forecast.
Aisin's April-September sales rose as Japanese automakers increased production, particularly at overseas plants, a company spokesman said.
Toyota Motor, which accounted for 66.2% of Aisin's April-September sales, produced 2.6 million passenger vehicles at overseas plants in the period, up 38.1% year on year.
However, a recent spike in geopolitical tension between Japan and China has slowed sales of Japanese cars in China, and this is likely to affect Aisin's earnings in the second half of its fiscal year to March 31, 2013.
Aisin forecast full year sales at Yen 2.5 billion, up 8.5% year on year, in line with a forecast published in April, and net profit at Yen 64 million, down from Yen 67 million in the earlier forecast.
Aisin's net profit for the fiscal year ended March 31 was Yen 55.4 billion, and net consolidated sales Yen 23 billion.
"We are seeing a mixed trend. Our performance is rising in North America, but there may be decreases in Asia," the spokesman said.
Aisin's output of aluminum diecast products is typically over 4,000 mt/month at its Japanese plants, according to local trade sources.
Separately, Keihin, a diecaster affiliated with the Honda Motor group, Wednesday posted Yen 144 billion consolidated sales revenue for April-September, up 26% year on year. Its net profit surged 818% to Yen 1.8 billion due to a recovery after the east Japan earthquake and floods in Thailand, a company spokesman said.
However, Keihin has revised down its full year earnings forecast in response to a reduction in Honda car sales in China.
Full year sales are now seen at Yen 290 billion, down from an earlier projection of Yen 294 billion, and net profit at Yen 5.3 billion, down from Yen 5.7 billion.
In the fiscal year to March 31, the company posted consolidated sales revenue of Yen 259 billion and net profit of Yen 4.2 billion.
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