Tsubakimoto Expects Record Auto-Parts Sales on Carmakers Rebound
Tsubakimoto Chain Co. (6371), a supplier of power-transmission equipment to Toyota Motor Corp. (7203), expects record fiscal 2012 sales from its automotive-parts division as carmakers recover from the record earthquake in Japan last year.
Sales at the division may reach 50 billion yen ($651 million) in the 12 months ending March 2013, Toru Fujiwara, who heads the unit, said in an interview in Osaka. The company forecasts auto-component sales of 43 billion yen for the 2011 fiscal year.
Profit at Osaka-based Tsubakimoto fell in the six months ended September, after Japanese automakers suspended production following the earthquake and tsunami last March that caused a shortage of parts and electricity.
Tsubakimoto rose 3.5 percent to 417 yen as of 11:10 a.m. in Tokyo trading, beating the 1.1 percent gain for the Nikkei 225 Stock Average.
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