Taiheiyo Cement lowers gearing, Japan

Taiheiyo Cement’s net debt-to-equity ratio is likely to drop to 2.4 by the end of the current fiscal, an improvement on the 2.6 from a year earlier and under 2.5 for the first time in five years.

According to a Nikkei Report, in the financial year ending 31 March, Japan's leading cement producer's cash flow has improved thanks to growth in cement sales which have been bolstered by earthquake reconstruction efforts. The company has also scaled back investments and sold assets.

The balance of interest-bearing debt is seen at JPY480bn (US$5.3bn) as of 31 March, down JPY30bn from a year earlier. Taiheiyo Cement aims to further reduce it to JPY460bn at the end of March 2015 and achieve a net debt-to-equity ratio of 1.8.