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Japan-Update

Cost cuts seen powering Furukawa Battery's profit surge

TOKYO -- Furukawa Battery's group operating profit apparently jumped 40% on the year to around 700 million yen ($6.76 million) for the April-September half, beating the forecast by 100 million yen, as cost reductions at an Indonesian plant widened profit margins.

Sales likely totaled around 25 billion yen, on par with a year earlier and 1 billion yen short of the guidance. Though Furukawa sold more replacement automotive batteries in Thailand, overseas sales declined on a yen basis due to the currency's appreciation. The Japanese company's domestic sales were solid.

Furukawa is expected to maintain its forecast for the fiscal year ending in March when the company releases earnings for the half Nov. 1.

(Nikkei)

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