Local News

Kitakyushu-based Mitsui High-Tec revised downward its earnings forecast for the year ending January 2011 from a projected current profit of three billion yen to a loss of one billion yen. They’ve also revised net profit down from a two billion yen profit to a one-billion-yen loss. This will be the company’s third straight year of losses. While demand for their products in the semiconductor sector remain high in China and Southeast Asia, the skyrocketing prices of copper and other metals in combination with intense price competition spelled the end of profitability.