Mitsubishi Materials Corporation extends gains on plan to exit brass rod and eco-brass forged products business
Mitsubishi Materials <5711> extended its sharp rally for a second straight session, after announcing after the market close on Friday, June 12, that it will discontinue manufacturing and selling brass rods and Eco-Brass forged products within its copper alloy business by March 2028. The news sparked a wave of buying on expectations of improved profitability.
The decision aligns with the company's structural transformation and portfolio optimization under its medium-term management plan. Mitsubishi Materials noted that it will focus on shifting its resources toward higher value-added products going forward.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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