Japanese copper and zinc miner and smelter, Dowa Holding expects its net sales in FY2021 (ending March 31, 2022) to increase by 9pc to JPY640bn ($5.8bn) compared to JPY588bn in FY2020.
The firm expects its operating income to increase by 17pc to JPY44bn in FY2021 from JPY37.4bn in FY2020.
The miner and smelter has projected a 26.4pc growth in net sales of its non-ferrous metals to JPY308.5bn and expects its operating income to increase by 2.3pc to JPY22.7bn in FY2021. Net sales at its metal processing division are forecasted to rise by 5.5pc to JPY83.4bn and operating income at this division is expected to increase by 1.1pc to JPY5.5bn in FY2021 compared to FY2020.
In FY2020, the company’s net sales of non-ferrous metals increased by 54.7pc to JPY282bn compared to JPY227.2bn in FY2019 while the net sales at its metal processing division saw a 4.5pc decline in FY2020 to JPY77.8bn from JPY82.3bn on an annual basis.
The company’s operating income at its non-ferrous metal division grew by 10.3pc to JPY20.3bn in FY2020 from JPY10bn in FY2019 and operating income at the division dropped by 0.7pc to JPY4.3bn from JPY5.1bn in the same timeframe.
($1=JPY109.36)