Taiheiyo looks for profit boost

Taiheiyo Cement Corp said Thursday it aims to boost its net profit by over 80 per cent under a new three-year business plan focusing on cost cuts and fair pricing in its core cement business.  The Japanese cement maker will target a group net profit of Y29 billion in fiscal 2007, which ends in March 2008, compared with its projected profit of Y16 billion for the fiscal year ending today.

As domestic cement demand will likely continue to fall, Taiheiyo Cement will also focus on its overseas cement business as well as new growth areas such as ceramics and electronics operations. 

The company aims to post a group operating profit of Y76 billion in fiscal 2007, up from the Y45 billion profit it expects this fiscal year. Its group sales target is set for Y885 billion in fiscal 2007, compared with the projected Y865 billion this fiscal year.  Taiheiyo Cement also said it plans a total capital expenditure of about Y150 billion over the next three fiscal years starting April 1.