Japan UEX's stainless steel sales slide in Apr-Dec 2020
According to the consolidated sales performance report released by UEX, Ltd., a Japan-based stainless steel distributor, in the first three quarters of the fiscal year 2020 (April-December 2020), the firm’s sales dropped by 13.6% year on year to roughly 36.47 billion yen due to declined demand and sales. The net profit attributable to shareholders of the parent company fell by nearly 88% year on year to around 69.1 million yen.
During the period, the average selling price of UEX’s stainless steel rose by 1.6% year on year while the sales volume slid by 19.4%, which led to year-on-year drops in the external sales value by 14.2% and the operating profit by 86.5%.
