According to Nikkei Asian Review, after five years of red ink in its U.S. business, Taiheiyo Cement expects to return the segment to profitability in the fiscal year that ends March 2015. Taiheiyo Cement President Shuji Fukuda noted that this would help prop up the group as demand related to reconstruction in Japan from the 2011 earthquake and tsunami diminishes.
The American subsidiary had been a major source of revenue, raking in just over $200 million in 2006, but began posting losses after the 2008 financial crisis hit. With the U.S. housing market slow to recover, the subsidiary remained stuck in the red year after year. However, the segment is doing more business – in particular on the West Coast – and the average selling price climbed about 10 percent in 2013.
