Nippon Kagaku Yakin Reports Fiscal 2004 Results

Nippon Kagaku Yakin Co. Ltd. (Japan) reported financial results for the fiscal year ended March 31, 2004. Sales for 2004 fell 18% from 2003, to ¥4.65 billion (USD $42.2 million) from ¥5.67 billion ($51.5 million). Net income, which had squeaked in at ¥9 million ($82,000) for 2003, reversed to a massive loss of ¥688 million ($6.3 million) for 2004. Established in Osaka in 1947, Nippon Kagaku Yakin manufactures Cupron, Ipron and Nikamet plain bearings. The company's products are all patented bronze/plastic, oil-impregnated, and copper-based sintered construction. Nippon Kagaku currently employs approximately 360 people at manufacturing facilities in Osaka and Mie. Looking forward to the fiscal year ending March 31, 2005, Nippon Kagaku initially projects sales will recover slightly, to ¥4.8 billion, with losses continuing, but narrowing to ¥20 million.