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Economy Report

Financial Highlights

Despite the impact of appreciation of yen and high oil price, exports were favorable in the first half of this year for us. However, the drastic credit contraction started from the United States and impacted the global real economy into an unprecedented world economic recession.

Under such economic conditions, the DOWA group has started the structural reconstruction and strongly promoted cost reduction. However, our current operating profits and net profits decreased drastically, resulting in loss of 13.4 billion yen, a decrease of 58.2 billion yen from the previous year.

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q Operating profits and recurring profits r
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q Dividend per share r
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Topics of 2008

Smelting and Refining

Photo New smelting and refining facilities in Kosaka
  • Kosaka Smelting and Refining installed new smelting and refining facilities and improved capacityimorej
  • Restructuring of zinc business and promoting and strengthening of business infrastructures
  • Enhancement of the sampling facilities of PGM (platinum group metal) both in Japan and U.S.A and strengthening its collection work

Environment and Recycling

Photo ECO-SYSTEM Chiba
New incineration furnace
  • Eco-System Chiba New incineration furnace completedimorej
  • DOWA acquired MAEH Inc., a waste disposal company in South East Asiaimorej
  • Kansai Soil Logistics Center was opened.
  • The BDF (biodiesel fuel) business commenced in Okayama Cityimorej
  • The CDM business commenced to collect methane from hog farms in the Philippinesimorej

Electronic Materials

PhotoConductive ink (using silver nanopowder)
  • Dowa obtained the exclusive right to sell U. S. PChemfs products related to silver nanopowder in Asia.imorej
  • Dowa succeeded in development of deep ultraviolet LED chips that are the worldfs state of art imorej
  • Equity investment in KYOTO ELEX CO., LTD. was increased to 50% (to enhance electronic material business)
  • The ferrite business base in Singapore was closed to concekntrate its production in Japan

Metal Processing

Photo Aluminum nitride substrates
  • Sales bases of copper elongation products (Tokyo and Nagoya) were concentrated into Hamamatsu to improve efficiency of sales activities
  • DOWA Hightech launched collection of Ni and Sn from waste plating solution.
  • TD Power Materials started manufacturing of aluminum nitride white plates.
  • DOWA Power Device completed enhancement of its production capacityimorej

Heat treatment

Photo New heat treatment plant in Ohta City
  • Construction of The ninth plant in Japan completed in Ohta City, Gunma Prefecture and commenced operationimorej
  • A new company in Thailand started the entrusted processing business of carburizing and die surface treatment.
  • The sales function was moved to Nagoya and the headquarters functions were deployed in Tokyo and Nagoya (effective utilization of organizational structures).

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