Japan - 5 major electric wire makers posted losses for FY2008 - 0 views
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Susanna Keung on 18 May 09Five of the major Japanese electric wire makers, (Furukawa Electric, Hitachi Cable, Fujikura, SWCC Showa Holdings, Mitsubishi Cable Industries Ltd.) have all posted consolidated recurring losses in their business results for FY2008 ended March 2009. All except Sumitomo Electric Industries, which reported lower sales, posted losses due to the dramatic fall in copper price during H2 2008 as well as the downturn in the automotive industry. Their copper inventory valuation losses have reduced their profits significantly. Sluggish demand is reported across a range of automobile related products including copper strip for connectors, winding wire and wiring harness.