Mitsubishi Materials Corporation Hardmetal India Private Limited

About Us

As a diversified materials company, the Mitsubishi Materials Group supplies basic materials indispensable for the world, together with fabricated products and new materials with high-performance features. At the same time, the Group aims to build social systems based on recycling natural resources and raw materials, which are gifts of nature. The Mitsubishi Materials Group is expanding its business activities globally to contribute to people, society and the Earth.

Operating conditions during fiscal 2010 were characterized by a rapid cooling of the global and Japanese economies, a downturn which began with the “Lehman Shock.” Such conditions dealt a severe blow to all of the Group’s businesses, with net sales falling 21.4% year on year to ¥1,119.4 billion. Turning to earnings, under these circumstances, we took steps to bolster our “Comprehensive Management Measures,” which are focused primarily on significant cost reductions and a further concentration of management resources. Owing to these efforts, the Group managed to retain an operating profit of ¥12.6 billion, which was down 63.9% compared with fiscal 2009. However, the Group experienced a negative turnaround from a net income of ¥6.1 billion, recorded in fiscal 2009, to a net loss of ¥66.5 billion due to its inability to overcome deteriorations in external conditions that exceeded forecasts. It is with our deepest regret that dividends for the fiscal year under review must unfortunately be postponed.